RE:RE:RE:Hard to get excited about spin off That's what I'm saying.
quote from the press release....see below.
So my point is, WHEN it is evident the naked short conspiracy theories are bunk, we are left with the purpose being "to unlock value". And I'm saying that's not possible so long as the spinco shares are unlisted, non-trading, way underfunded far flung orphan properties. I may be proven wrong but I've heard penny stock companies complaining about the phantom naked shorts being the cause of weak stock prices. There may be a few greasy offshore traders trying to play games for profits but I've never seen evidence of any widespread naked shorting of Canadian penny stocks. I guess we shall see. Zero reaction from any of the supposed massive naked shorts yesterday. If he's right, I'll donate my huge profit from spinco to the lobby group.
"We are doing this to unlock value for Power Nickel shareholders. Fundamentally we believe our shareholders are not receiving at the moment any benefit from the properties we are spinning out. We also believe the private nature of the spin out, and that Spinco will initially not seek a stock exchange listing, may prove problematic for the non declared holders of what we believe is a naked short position in Power Nickel."