RE:RE:RE:RE:RE:RE:A Different PerspectiveI must agree with Shark and BCDude about the fundamentals of
BQE. However, Brookie makes a couple of salient, important points for anyone trying to take a long position in the company's shares: a lack of liquidity, and significant spreads between bids and offers.
With only 1.3ish million shares outstanding, and counting at least 60 to 65% of shares held by insiders and management, not a lot of shares up for grabs . Obviously, solution seems fairly simple, split the stock, maybe two or three for one. That should, theoretically, attract more interest which ,in itself , would improve liquidity.
However, the extreme 100 for 0ne rollup done last year, coincidental with very successful operations , was beautifully timed and has contributed to perceptions that this is a company
to be taken seriously.
One wonders if current insiders really want more interest in the company's shares as they seem to continue to add to their own positions. The only sales I can see from insiders are from a ten percenter who seems to have gotten involved with the company at rock bottom prices so is already making out like a bandit, while most other insiders are long term ( perhaps painfully long term) shareholders and /or staff.
BQE is clearly an ideal candidate to be privatized. In point of fact, any major mining engineering firm could do extremely well just acquiring BQE's Intellectual property and operational expertise. They would gain the credibility BQE has built up, which, along with the acquirer's capital could engage in many more projects. Good Lord, but had Tech just bought BQE a few years ago they would have a great little subsidiary and might not have pissed away something on the order of a $ Billion trying to sort out a still ongoing Selenium problem in the Elk Valley.
Unfortunately, I would not anticipate management splitting the shares, thus anyone wanting to establish a position should probably be prepared to buy on the basis of two to three years hence, anticipated earnings.