OTCPK:VGIPF - Post by User
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InvestorSuperfanon Oct 27, 2013 9:13pm
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Post# 21853025
Another Former Renegade Cheerleader from Sprott
Another Former Renegade Cheerleader from Sprott
According to Stockchase.com, Peter Imhof, who co--manages the Sprott Small Cap Equity fund along with Alan Jacobs, stated the following this past week (October 24):
"This is like musical chairs in terms of the management team. Not a huge fan. They’ve said they are looking for strategic alternatives and he is surprised that nothing has happened, which is a little bit worrisome. Has been trading in a range of $1-$1.10 over the last few months. Feels that most of the downside has already happened so if you own, he would continue to Hold."
Not very enthusiastic, right?
According to the Sprott Financial Statements dated June 30, 2013, the Sprott Small Cap Equity fund held over 1.5 million RPL shares purchases at a total cost of over $4.5M, and valued at just over $1.6M as at June 30, 2013. It was their largest holding in the Energy sector in terms of unitholder dollars invested.
On July 11, 2013, Mr. Imhof was slightly more optimistic (again courtesy of Stockchase.com):
"Dividend is high just because the stock has collapsed. CFO is leaving and they may try to sell off parts of the company to add liquidity to the balance sheet. Looks alright here. It has been oversold. Should see a bit of a bump over the next few weeks."
I wonder if these two fellows did their own due diligence as this tragedy unfolded over the past 10 months, or did they just follow the advice of Eric Nuttall.....?