What is brewing ? Up $3 this morning ? Volume away up !This could be a result of the new board dominated by merger and acquisition specialists.
Why do you need a board of 8 members for a simple flow through operation like LIF. They must be coming up with modern financial highjinks to justify their skimming their personal revenus off the top before distributions to the shareholders. 8 people around a board table must get bored with the simple operations of a flow through like LIF.
Danger to all longs. $3 is nice but I would like to see LIF continue to exist and pay nice dividends.
LIF was up for sale by Rio 4 or 5 years ago. At that time they could not get any offers up to their expectation and they decided to keep us, as long as good dividends kept on flowing and no cash injection was required. The new board may be looking for some quick cash and have lowered their expectation from that of Rio.
I do not trust this board. IMHO they are more motivated by what flows to their pockets than what flows to shareholders. The board's attempts to change the direction of IOC ( to allow investments in other royalty generators ) was rebuffed by the share owners in late 2018 early 2019. Be alert my friends the same rebuff may be required again.