Post by
DropShot on Feb 13, 2019 3:27pm
Thinking of ORT as Like a Lottery Ticket
Have been in this one since April 2011; paid $4.40 a share back in those days - imagine that. Doubled down a few times and my last buy was for $0.36 in August 2016. At that time I still thought they would get it done. It would take a long time, but it would eventually get done.
In my portfolio sprreadsheet I now show ORT with a value of zero. Even so, a part of me still says this could go, that's what I mean by a lottery ticket. You know you won't win but you can dream.
As for the Quebec government getting in the way: one of the reasons I liked this one is that it is in the government's best interest to get some industry going in the dirt-poor Gaspe. The majors may be watching this, but it will take so long for ORT to make any money - if ever - that I doubt the majors are trying to influence the government in a negative way.
Thought I would share the memories with all my fellow - still a tiny bit hopeful - longs. GLTA.
Comment by
Ohn00rt on Feb 15, 2019 9:57am
Thanks for sharing - I'm still hopeful. I am confident the company will float sooner or later. I just hope us investors are not left out during reorganization or refinancing process. We injected hard earned money and believed in the company for many years, despite missed deadlines and delays. It would be cruel of management to hang us out to dry.
Comment by
superfido10 on Feb 18, 2019 4:10pm
"It would be cruel of management to hang us out to dry." They have no choice. CEO Glenn Kelly and friends have big fat salaries and bonuses to collect. Investors will get the generosity of Kelly's big fat middle finger.
Comment by
NeotraderQC on Feb 20, 2019 2:53pm
Remember IQ and the Fed own equity here - financings were done for common shares, not debt. Therefore any Plan of Arrangement will have the same impact on them as it will on us, therefore they can't just hang retail out to dry under normal circumstances.....
Comment by
growthnprosper on Mar 06, 2019 7:10pm
New Press release...stay extended until June 7th. Let's hope they get into production without any problems. Not sure after that what happens.