From weak hands to strong hands
Look, I remain grateful for the role the "persistent seller", (uh can I say Waterton?) played in keeping the lights on several years ago. They invested when investors were nonexistent. As we know, junior explorers are not their niche. One reason it may not be their focus is illiquidity. Having a public float that's relatively small compared to total shares outstanding, means Waterton could get in, but not out.
I just saw an Investor Presentation that shows Waterton at 5%, of roughly 300 million, or 14.8 million shares. At roughly US $.20, that's near US $3 million to set Waterton free.
I'm not sure, but I think NUG management reads this board. I doubt they post, but some who do post are knowledgeable. I recall last year they offered a conference call to this board. I mention that because solutions presented here and opinions of them might carry weight.
Two possible solutions come to my mind. I would love to hear others.
First, I think we'd want to know Waterton would cooperate.
One idea to exxplore is the possibility of a corporate stock buyback for a portion of it, to create momentum in the share price, and generate steady publicity.
A second idea might be to conduct a secondary offering of Waterton's shares. I am not a securities lawyer, so I don't know what this entails. Again, it is a way to create momentum, publicity via news releases, and to take some or all of "persistent seller's" shares off the table. In a perfect world, it might move NUG's price up to make an investment by a new investor look more interesting to them, and more attractive to NUG due to higher share price. Of course there's some risk. NUG is in the business of taking prudent risks.
Finally some very judicious use of warrants could sweeten a secondary offering. Again, I'm not a securities lawyer, and I'm not suggesting anything near 1 warrant for 1 share. I wonder if "persistent seller" still holds any warrants? Hmmm... Ideas?