RE:Bunch of clowns EO / SC / ES - are we waiting for June 24. ?Pany,
You delivered quite a good dose of criticism to several individuals/group. It's fine to criticize them but there would be no need to call anybody "clown" unless there is solid proof for their illegitimate wrong doings.
- For EO, he's fighting for survival. If you disagree with his approach, just don't vote for him.
- For the Special Committee, everybody is waiting for the SC to release the information on the updated RE and any proposed plan/merger/whatever. But, they may be forced to go past the "mid May" date. I would criticise them for not keeping the promise, but I would not call the people in the SC and BoD directors clowns. They will release information relevant for the Special Meeting of 24 July in "due course", with enough time for shareholders to digest before the Special Meeting. The info will be sent out in their Info Circular (but I don't know the exact date...call the company to find out)
- ES: The latest PP ($14-16M)for for PRB was arranged by a syndicate of underwriters led by Sprott Capital Partners. Eric Sprott may be one of the participants, but nobody knows who were the major participants. So, presumably you assume that ES took a large chunk? If this were the case then it would be very interesting...meaning that ES would gain a foothold in PRB and would perhaps have some influence in the speculated merger between PRB and AZX?
Depending on the units (FT or hard unit) the price range was from 1.90 to 1.15, with 1/2 a wt @1.45 attached. The 1.90 would give the holder some significant tax incentive, and the hard unit price was low (you said lowest for PRB?). Even if ES (assumed that he bought some) bought PRB at 1.15, what would be wrong with that, since he is an investor, he's in this game to make some money (buy low, and sell high hopefully), just like any of us. There was an opportunity to buy PRB in the open market for 1.14, but I am not sure if any one would grab some at this bargain price.
Another thing to keep in mind is for big investor like ES (or AEM) sometimes it's not the short-term gain. Quite often, it the control of a company that they are after for long-term gain.
GH
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PanyCheck wrote: All of them only with self interest, claiming to be shareholder friendly:
EO - phoning folks to vote him, while having his own pockets with fat salaries .... yet just owning few shares. Very funny.
Special Committe: Working diligently for trust of all shareholders, by asking to vote them ... without releasing the RE. Not even clear, whether / when they will release the promised RE. Hopefully before a merger or a sale of them compsny ? Funny, if not.
Sprott - Buying PRB at the lowest price, taking over AZX even lower. After all both filling the same pocket.
Is there not a law, that 1 month before the AGM (on July 24) the topics needs to be circulated to all shareholders ?
Saying that, this would be June 24 ? So the RE would be even before June 24 ?