RE:RE:Very pleased with SIB. Book value now at $1.28 per shareThey bought approximately 14,879,483 Shares at a purchase price of $0.78 per Share, total cost 15 mil. I didn’t get my shares tendered either as I offered them at $0.82. I didn’t go heavy here, small position. But I don’t blame Wheresmygold, or anyone else for my decisions. I also thought there was a decent chance they would get tendered at higher price than $.78, but I bought at $0.77 and grabbed a $0.01 dividend so not a big deal. I
I have done lots of tender auctions where that is exactly what happens, you get the top price. And sometime it is middle of range and sometimes final price is bottom of range. It’s all about risk reward ratio, what margin of safety your entry price gives you, and cutting your losses quickly so that you can avoid big loss and get your capital back to work in something better.