RE:RE:RE:RE:RE:RE:RE:European Gold Forum
Incube, I don't know how Black Rock or Sprott reacted on the dividend cut but the S&P Dow Jones Indices Services' reaction is clear. All the funds that operate in the field of High Dividend yield had to close their positions in NSU. No matter growth prospects or "saving money for Timok development" . NSU seized to meet the criteria of those funds and they had to liquidate their positions. Retail investor can scratch his head and hope for a recovery, V -shaped or other. Management of funds have guidelines and obligations to follow them. They'd sell at loss if any specific stock doesn't fit their guidelines anymore. That was a substantial driver of the sell off. Not the only one, but pretty essential. Those here who say the dividend cut was a non-event are totally out of clue. It was a non-event for the likes of Trebilock with the base salary of $475K + bonuses and shares in the company worth $30-40K. My dividends in 2016 were around a quarter of his total share holdings. The dividend kept the SP at a certain level and since it was going on for several years we got used to stability and reliability. I'm longer in this stock than many other guys who came from RMC. Not to offend, just to say that Cliff was doing a great job all those years. Delivering results under the budget, hiking dividend. The management didn't spend company's cash for years on acquisition until they found something great. All those prudent actions instilled trust and, complacency. Actions of recent months are so not NSU the way we know it for years.Something has changed. Incube , you blamed the company for years for not buying something, to put the cash to work. At least 3-4 years you complained about that. No offence, but as they say "be careful what you wish for". We have great assets now. Sure. The dividend now is 0.25 of what it was . The SP is around 30% down.