RE:Thank you Wineaux. Your contributions Thanks Sherm, in a way this is reassuring so at least we now understand where all the selling pressure is coming from and that we are not crazy for investing in this stock.
I got another update for IR this morning:
We are not sure of BlackRock’s end goal with their TMAC holding. There are a few scenarios for you to consider:
- They could continue to sell the remaining 10.8M shares in the open market and continue to put pressure on the share price. This would take a significant amount of time before they have sold their full block.
- They could sell the 10.8M block to another strategic investor and avoid paying the fees to sell in the open market.
- They could hold the 10.8M block to see what happens as TMAC works to improve operations at Hope Bay and explore expansion options for the future.