GREY:FNKLF - Post by User
Comment by
mcuglyon May 16, 2014 8:47am
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Post# 22568861
RE:down again.......
RE:down again.......You're starting to make a believer out of me. I've been a staunch supporter of this company since they started on care and maintenance. I believed William anderson when he said in a BNN interview that the company was not going to go bankrupt. Now I'm not so sure.If the las quarter is any indication, we're in trouble. Another $9 million loss. How the hell they are going to find any money for acquisitions that they keep talking about, is beyond me. I hope they did some forward selling when nickel hit $9.00/lb.
They say they're in discussions with their major shareholders about restructuring their finances, again, so does that mean a further share dilution? My bet is yes. But at what price?
I shudder to even use the C word but consolidation, probably 10 for 1 is possibly next bringing the number of shares outstanding to approx. 70 million at a price of $.40 (but not for long) It'll probably drop to $.20 the day after the consolidation. I'm getting chills just thinking about it. If they can't turn a profit this quarter at current nickel prices, then I wholeheartedly agree that management should be shown the door. Maybe they should be looking for a buyer at $.10/share ($70 million). Just dreaming.
McUgly