RE:RE:RE:RE:Market uncertainty.There are degrees of "long" I guess. It would be great to see a decent SP of close to $2.00 before bidding starts, even if only to reassure longs that we won't lose anything at this point (barring a black swan event). Would you sell at say $1.80, to move into oil or something else?
None of us is thrilled with dilution, but it's less than 5%. Last time it was 4%. I'd say it was money well spent. The longs, myself included, are betting that more than 5% appreciation of our asset will result, based on what Ross knows about the zones.
At this stage, I trust him to return better than 5% with the extra drill holes. This may even be a bluff, as the talk about 9.9% partners may have been, to get the first bidder to step up to the plate. I hope not before they change the rules for hostile offers.
Even if there are no takers yet, we stand a good chance of owning a more valuable asset while the demand continues to grow. This seems to be taking forever, but we're making money by waiting.
FWIW I know my posts aren't great research,numbers or market facts, but I'd like to see us all keep our heads clear and focus on the end game. As the Hip say, it'll be "well worth the wait"
I'm turning 55 in two weeks. While I hoped to retire on FCU by then, I can wait it out. Still gonna ask my wife for a (lemon) yellow cake though. Have a good day.