RE:RE:RE:RE:RE:RE:RE:RE:Renmark today? It was a joke on Brookfields part. They bought a desressed asset and owned 90% while retail owned the 10%. Got it up and running again. At which point they decided that more liquidity was required, at which point it got sold down because bigger players were in the know of what is happeneing. Brookfield ended up selling about 10% of their stake to big banks at around 13$. Shortly afterwards the company started making large $$$ at about 1500$ palladium. So dividends and special dividends where flying out the door. A few months later the company was bought for 1 billion Canadian. 19.75 for everyone but Brookfield, they decided 16 and change was enough for them. There was no premium to closing price for us retail investors because the majority owner was happy with a lot less. Most retail investors were unhappy. The banks that bought at 13$ were somewhat happy. But regardless it was a poor deal. Brookfield made a mistake. After the buyout I was looking for something in a safe location with the same metals and found Genm. Bought in shortly after the pfs and just added. I think we have a money machine here as well. Just need to get through some more hurdles to get us there. I'm not worried about the financing, just need the environmental approval. Next few months will be monumental for us.
side note. The macd signalled a buy today and we took a strong bounce off of the 50dma with the cup and handle still in play. Hold on folks.