TSXV:ORC.A - Post by User
Comment by
mortgages101on Jul 14, 2019 9:47am
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Post# 29917912
RE:IMHO
RE:IMHOI agree that the Swala dealings have been useless. Clearly the management not even bringing it's last offer to shareholders sign that 1. the price ain't right and 2. Swala has to bring greater guarantees such as non refuntable deposit on any other transaction offer. Swala is interested in Orca/PAET though they only have some much money available to them for any investment.
With respect to management letting shareholders down. I disagree. At times I have been critical of the bod but we are lucky that they have been able to ride the wave that is doing business in Tanzania. If you look at Aminex they are on the verge of shutting their doors or having to issue more stock to keep the lights on.
We've been receiving a nice dividend, we trade at cash, production is set to increase, Tanesco payments keep coming in, NCIB is activated ( while has yet to be effective). If PSA is extended at fair terms SSN & SSW could be drilled.
It has been a value trap of sorts, has little to do with the way the company as run, more to do with operating in a country that most would not want to invest in at this time.