RE:RE:RE:Relative valuepointer wrote
Theconsortman wrote: pointer wrote: SGY used to trade in tandem with CJ, at about half CJ's share price.
CJ is $1.05 today, so SGY should be over 50 cents just on that basis.
The only reason CJ went up is because a well known guy bought into some of their debt, he didn't buy a single share.
So all SGY needs is some catalyst to get people's attention.
That is wrong. The well known guy is a value hunter,
He got some warrants with the debt so he has confidence on the equity side as well. Murray doesn't over pay or lose money lol.
Warrants are always a freebie, so don't mean much of anything. Murray could have just been playing the rise in the price of oil, with little risk to his capital. If he had bought common shares, now that would have been different.
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Mr Edwards bought 6,247000 units in the recent private placement. Each unit consisted of one Common share and one purchase warrant.
He also held over 11 million shares of CJ before the private placement so now currently owns over 18% of CJs outstanding shares.
So i guess it was different.