GREY:SCPZF - Post by User
Comment by
pmac2015on Apr 02, 2015 9:57am
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Post# 23590983
RE:RE:RE:50% discount to NAV
RE:RE:RE:50% discount to NAVFrom Steve Yuzpe's letter addressed to SCP shareholders dated March 4, 2015:
"... Over the course of 2014, we successfully narrowed the discount to NAV from 37% to 19% and we remain committed using the tools at our disposal to further reduce the discount in 2015."
I'd really like to know what he has to say today about that statement. The buyback has disappeared and the discount has widened to a ridiculous level.
Potential situations
1) They no longer have the liquidity to continue the buyback
2) Are contemplating or working on deals to sell assets
3) Are assessing and enteraining possible go private or merger transactions - Remember Sprott Rescource Lending's merger with parent Sprott
4) They are not in fact at all committed to reducing the discount to NAV
5) Management/Board/Exec's are all on vacation
Whatever situation it is shareholders are due for an update.