RE:RE:RE:FCU shareholders made a mistake to block the deal!They could start by reining in travel and admin costs. When my household is short of free cash, we hold back on travel and other non-essentials. Has anyone at HQ ever tried Skype or Facetime? In a time of persistently low U sentiment/spot price, the last thing we should be doing is directing scarce funds away from the drill and toward lavish globe-trotting.
Any offer coming in within the next few months may not be much better than the misbegotten merger would have been, so why not wait until we have more proven lbs AND a better climate for selling RRR? We all know it's something really special; why put time, money and effort into selling it cheap? Stay Home Dev!
Mr Lundin said at the town hall meeting that this is a good time to buy an asset like RRR. That means to me it's a bad time to be selling it. So let's put Dev's passport away somewhere and get him focused. Board: set a travel budget with a firm limit. Enough already.
As for raising more money: let's give SHs a chance to average down; how about a rights offering for existing SHs first? With a written undertaking to spend proceeds on the drill, not plane tickets.