RE:RE:RE:RE:Bye Bye Murray tsoprano24 wrote: It may be frustrating, but that is investing. I have many stocks trading below book value and wouldn't think of selling them. Each day one or more of them do something to make me happy I own them. Dundee just took a chunk off the streets. TauRx may go public any day, and put us 50-100% higher. I agree this isn't for everyone and they should sell. As for me, I am planning on selling some underachievers and adding this and a couple other stocks trading well below book and just wait till they get fair value. I sleep better at night with investments and not speculations. So if Dundee doesn't meet Earlston and Polar's needs, so be it.
T
The big issue here is that G&A is sitll quite high and they aren't generating cash. They've been pretty clear that they need to parter with 3rd party capital or increase deal size to bring meaningful $ in the door.
They've hinted that the proceeds from further legacy asset sales will be returned to shareholders. Given the # shares tendered at $1.40, I think another low-ball SIB would make the most sense in this scenario.
Speaking of proceeds: I recently read through the transcript from Goodman's AGM presentation. Don't know why I missed it earlier. Here's a great excerpt:
From [ Matt Chandro ], the question comes in, what is the status of the Blue Goose sale?
Well, right now, we have 2 very interested parties on Blue Goose. And we have -- we are hoping that in the next few days, within the next week, one of those parties comes and gives us an unconditional offer to sell. So we're very, very progressed but not yet at the finish line.
That was October 15. I think it's safe to say that those 2 very interested parties weren't as interested as they thought.