RE:What concerns me…Swingandmiss wrote: Is that the constant upward momentum could be someone accumulating as many shares as possible in the open market for the hostile takeover. I understand the dilution defense, but many of us don't have tonsofdough to buy at discount. Hoping this is just dumb money piling in for quick, easy payday.
Thoughts?
IMO; The rights offering is the key to recent gains. I don't think there is an investor here that doesn't believe Victoria will be sold for less than our previous high of $21.00 (I hope considerably more), Which sets a safety margin on purchasing any shares less than $21.00 Now throw in the possibility of acquiring rights/shares at a 50% discount; I know some cant afford or don't have the room, but this is very attractive.
FYI, I spoke to my guy at CIBC to see if I can exercise rights from a registered account and he said yes. Do you own DD on that.
This changes my strategy significantly, as I no longer have to worry about being diluted or the sale price being less than current. I pulled my high stink sale price in favor of the possibility of the rights.
As for Orion and Coeur, the way I read the rights offering on Sedar, any entity acquiring over 20% of VGCX shares would void their rights, so I don't see Orion acquiring over the limit as they would have to vote with Coeur in a potential offer on the company and loose millions (without the rights). Coeur on the other hand, could be attempting to purchase shares on the open market to bring their holdings along with Orion's up to 50%, however, they would still face the rights on the other 50% along with potsntially Orions rights. In which case; having the rights would be key. I'm not sure Coeur can find the shares on the float to accomplish that, maybe, and only at a significant premium, which we are starting to see.
I thought the rights offering may prevent me from my exit strategy of waiting for the eventual sale, however, I don't believe that now. There may be an opportunity for a swing, buy I'm not taking the chance, with the shares I currently have. Holding tight and looking forward to the opportunity to add rights. May even convince myself to add.
All the Best-Looking forward to this story unfolding.