RE:RE: They are at the mercy of Cubans even for Moa $ ???Contrarian - you know this company extremely well. Like me, you know your patience will pay of for you (and the clients you advise). However you are being a little disengenuous here - claiming that through all these various 'independant' companies our profits flow back to us in some 'normal' or 'predictable' way. It is just not true. Moa JV dividends need to be declared. We are not in controll of that process.
Look - if this was some normal predictable set up, you wouldn't have to get on the phone with the company to ask were the cash is, would you? I am in no way disparaging you nor Sherritt as an investment. I've invested heavily and I expect to reap great returns as are many other brave and patient investors on this board. This is a deep deep value play and it will pan out well. But look, you have to admit, we are not in control of the proceeds of our sales. We aren't receiving cash or profit in a normal predictable way. That's just a fact. Regardless of this elaborate shell game, Cuban political forces/considerations have a major influence as to whether and when we receive our cash. As to whether and when a JV divy is declaired. Yes I am a firm believer the money will flow - lots of it. However it is plain for anyone examining the situation to see, we are not equal partners when it comes to decisions around the distribution of cash from the JV. Regardless of what is says on paper. I am not suggesting anyone is stealing our money. I am saying however that distribution decisions are not being made in a normal independant best for business sort of way. It kinda baffles me that you with your knowledge and experience with Sherritt are suggesting otherwise. With respect.
Contrarian333 wrote: No - you are not interpreting that correctly. Definitely depend upon the Cubans to pay them for Energas but not for Moa operations. A separate non Cuban legal entity has ownership of the metal, executes the sales and collects the cash.
I'm talking to them next week. I'll get a more detailed description of the movement of cash.