RE:T.DML & T.FCU
Thanks for the reminder. Last year I went to Myrtle Beach, happened to peek after a few days offline, and couldn't believe it. I believe we haven't seen a dollar since. Many blamed the Oversight people for the subsequent SP depression, but they didn't exist until that DML deal was announced, and that's a fact. The deal begat OS, not the other way around.
Factors that made the deal unpalatable for FCU SHs (while DML SHs were NOT protesting) were: FCU being paid not in currency, but shares, and at a bargain-basement (for DML) ratio; the divergence of management's interests from ours; the incomplete resource size used in calculations, the CEO's lack of a filter for some unfortunate public comments...
If indeed there's something afoot behind the scenes, this time around I'd like to see a statement from DR to the effect that no deals will be entertained until an updated RE including ALL drilling data has been prepared. There's still huge potential at PLS. No rush.