Is what it is…I don't think it matters whether you are bullish camp of Bne or bearish camp of Bne...the problem tomorrow and rest of this week when stock starts trading is the expectations a group of retail investors have on how soon of a timeframe a return of capital strategy will happen.
Any selling pressure into this type of market conditions and Jane a 20-40 cent drop.
Just because Pne didn't drop after q2 doesn't mean that it shouldn't have or will by June 30th.
I am not going to bash Bne as they are actually doing the right strategy for the long term, and good management to do this pivot for the next 3-5 years.
It's too bad they didn't do a share offering right after the Charlie lake and raise 30m -50m in cash and use that too fund Charlie lake...even if it would have increased share outstanding to 50m range...it would have speed up the time frame so much in which they would be in financial shape to do a return of capital to shareholders.