GREY:SCPZF - Post by User
Comment by
pmac2015on May 10, 2015 6:10pm
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Post# 23713400
RE:Good Time to Get In?
RE:Good Time to Get In?Answers to your questions:
i) Management fee of 0.5% per quarter (% of NAV) plus 20% of profits above a hurdle rate but they are so far behind the hurdle at this point that it's not even relevant.
ii) This fund definitley has top management's attention, and you have to wonder what options they are considering given the plunge in share price.
iii) The earnings are released this week and they will have to address the discount. ICD is their largest position and probably it's most liquid. Selling off some positions and ramping up the buyback is the least they can do.
I'm curious to know how significant the position is that the McElvaine Fund has and if they have the ear of Sprott Resource Management. I believe there is huge upside and it just depends on how fast management acts to close the discount gap.