RE:RE:RE:RE:RE:RE:G&A - What is reasonable ?"On the preferred, the Serie 2 interest rate were at 5% but about to reset to T+4% (9%?) on September 30."
Some perspective on just how cheap the SERIES 2 prefs were at GCAN5YR + 4.1%.
Canadians generally "renew" mortgages on homes every 5 years. Fixed rate mortgages are generally GCAN5YR + 1.5%.
THE JR MINING SHITCO EQUITY PREMIUM IS ONLY 2.6% ABOVE HOUSING DEBT.
Imagine you knew a rich idiot and offered them a dividend equal to 4.1% + GCAN5YR to invest in a bunch of speculative jr mining companies while they paid 1.5% + GCAN5YR on their mortgage.
Instead of paying that money back they could have bought back common shares at a 50 to 75% discount to NAV then sold the equivalent underlying stocks like GMIN making it CASHFLOW POSITIVE.