NORTHERN BLIZZARD RESOURCES INC T.NBZ

Martin Granger must be short NBZ

[hawkowl1]

For him to have critized NBZ when they were issuing shares for dividends and diluting stock,he now critizes them for doing what they should have done a long time ago.
They will essentially reverse dilution with $4 buy back.Lower share count. Better per share numbers. Major shareholders get a tax loss on a small percentage of holdings.
Anyhow as of yesterday now have a full position. Metrics are dirt cheap compared to peers.
One thing management never were able to make an acquisition at the bottom to diversify production profile.If you look at their profile they are not oil people mostly accountants.
Nevertheless being a contrarian this is an opportunity.

[pierrelebel]

"he now critizes them for doing what they should have done a long time ago." I watched the show on BNN and this is not what I understand him to have said. His concern - and mine as stated when the $4 offer announcement was made - is the fact that the majority shareholders would tender ALL their shares, reducing their percentage of ownership (as not every share will be tendered by all

[mike49]

Just wondering-does nbz take up shares from the public first or pro-rata or is this a done deal for the hedge funds? I guess if insiders buy this week or exercise options,etc. we know the answer there.... Just in passing-joy,longrun,and new star all have some operations that could be considered proximate to each other and all have Asian investors now;sort of a buddy group. Could the 2 funds simply

[ALDO76]

NBZ had not choice to go through tender offer instead the more traditional issuer bid buyback, with an average daily trading of 200k shares it will take more then a year to complete the buyback from the market, and risking paying on top of that a much higher premimum if the stock appreciates more , by using a tender offer and with the help of the private major holders, NBZ will proceed swiftly