RE:RE:Great Q1! I have a love hate relationship with Dundee. I love the fact that Jonathan is out there doing amazing Jr mining deals and that the stock is at an absurd discount to net asset value (book) which is discounted.
Example 1: TauRx is still being carried with a 19% chance of success even though
1) On Jan 18, 2024 the drug was made available to patients with Alzheimer's Disease under a Named Patient Program in Hong Kong and Macau.
2) On March 12, 2024 the FDA updated early Alzheimer’s drug development guidance to add support for biomarkers and surrogate endpoints.
Example 2: Some lot of jr mining deals involve out of the money warrants which have zero value on the balance sheet.
I also loved the capital structure from a couple of years ago with do debt. Those preferred shares were REALLY cheap permanent funding. IMO some DPM should have been kept and sold off slowly. Common shares had a bigger discount than preferred so the majority of bayback should be common shares. Adding debt to reduce preferred shares made no sense to me. I thought Investment Funds would be scooping up Dundee vs Momentum. You are totally right that investors need to see Common Stock bought back over the next couple of quarters to regain credibility.