RE:RE:RE:Record
A year ago the company called Bankers Petroleum (BNK) that was digging heavy oil in Albania was bought by Chinese. In 2015 October-November the company was approached by the same Chinese to buy it . The sp was then around $2.70CAD. Management declined the offer as inappropriate and low value. Pretty soon after that Albanian authorities initiated an inquiry into capital expenditures writing off questioning them and implying the company was avoiding taxes. All accounts in Albania were frozen. The stock dived from $2+ at that time to $0.60-0.90. In April Chinese guys came out again with the same offer. Generous one. They offered $2.20 at the time the sp closed at $1.10. 100% . The company itself had a great management team and performed pretty well overall. There was an agreement that independent third party accounting firm would make a research and the result would be binding for both, the company and the Albanian authorities. The results were not known and the company was sold. At a 100% premium. To a 20-30% value. Those, who got in at $0.60-0.90 were lucky. Those, who stayed with the company when it was $7CAD were screwed. To respond to tony's stance that we will be bought by Chinese...we might. In that case with BNK I had a mere 10K before the drop and a lot of cash to buy a good company's shares in a temporary trouble at below a buck. $2.20 suited me well. In our case with NSU it seems like we loaded completely way before we should have. At the end of the month it was most likely an Aristocrat dividend fund unloading. Who was unloading today? The whole story I wrote above is to show my concern that the stock might be played. I'm not a conspiracy theorist , just trying to figure out what to do next with ,unfortunately, limited resources. The Q report was pretty good. Sector is down, yes, but still the copper is around $2.50 and zinc around $1.16. Still more than it was. If there is a party which intentionally presses us down to give us a 100% premium later, when it depresses the stock to the value of Timok only. BTW, totally disagree with the guys who claim Bisha worth nothing. Not true. Bisha bought the Timok. Just hope that we have more than one suitor. If not, those institutionals , Black Rock and else, may squeeze us out.