Bye bye shiff..A little bit strange with the statement made last Q
We are seeing some interesting opportunities with Schiff Gold, our precious metals coin dealer. One of the benefits of our new reporting structure is that shareholders can now see the variable costs of Schiff Gold separately from Goldmoney.com. We think there is an opportunity to grow Schiff Gold as well as reduce some of the operating costs, thereby increasing its profitability. We have been working on a relaunch of the Schiff Gold website as well as other opportunities to expand our reach beyond North America.
That said exit the low margin business. ( shiff 1% in net operating )
The lost of 233 mil /y in revenues will project the net income ratio from 3,6 to 16 % !!
Nb of shares reduced to circa13.5 mil . The net tangibke cap / share shoukd stay above cad10.5 .
Just spec for the next Q .
Huge discount right now .
This move could offend the bugs , but this is very rationnal from a balance sheet pt of view.