I Have Good News and Bad News. Which first?I think you want The Bad news first. Schwab says 30,000 shares traded Friday, about $6,000. I think that's Toronto. OTCQX says 54,765. I guess those should be added together.
So the bad news is liquidity. It turns out that's also the good news. If you are Waterton, or even a lot of you, you couldn't sell if you wanted to, not without affecting price. I do believe Waterton still owns a few percent.
Now we have good news from the company, and more could be on the way (Fall driling, results, a financing, Spring drilling). You probably can't get in the door to buy many shares either, without affecting price. Nice.
1. Waterton will run out of shares one of these days. We will get through it.
The tables may be about to turn. Are you ready? Of course you are. I mean, are you positioned?
2. In my last post, I discussed how Tocquville could have been viewed as funding 2017 drilling and how that drilling left NUG with a great story to tell institutions at Beaver Creek. You couldn't orchestrate a better ending. GSV, you listening?
The tables may be about to turn, are you positioned?
3. I also posted about how NUG conveniently just lined up an incentive stock plan.
Does management sense a bottom? The tables may be about to turn, are you positioned?
Now, let's deal with one distinction between NUG & GSV along the lines of liquidity and institutional investment. GSV has much more depth of investment from institutional funds. GSV's listing on NYSE helps U.S. liquidity. Having a share price over a dollar probably helps too. An institution could build a position in GSV through the open market. But, at this point, an institution's only way in NUG's door is probably through a financing.
Fortunately NUG has a good story to tell, more to come, and a good place to tell it, Beaver Creek.
4. I can't predict the timing of the next financing. Just that it makes sense to fund next year's drilling while conserving cash.
The tables may be about to turn, are you positioned?