Post by
marketsense on Dec 11, 2020 12:44am
Amazing
TKO mgmt wasn't throwing anybody under the bus after all. Thanks for that info Miner.
I was shaking my head over that PP and couldn't understand it. Now I get it. They had
to come up with that figure in order to secure the permit and indeed, better to pp it than
draw down from accrued earnings that needs to go to Florence. You are completely
exonerated Miner. Wait till NF gets up to speed on this.
MS: Feeling better about my buy back on the swing trade.
Comment by
nofluff on Dec 11, 2020 2:28am
Not buying it fellas. At 3.50 copper, that was 1 q profit. We had it in the bank. Ya dont give up 12% of your corp for 3 months profit. But I respect your right to do business the way u like 2. At the very least, there releases could have mentioned those things. Happy trading nf
Comment by
2024golden on Dec 11, 2020 3:42am
I agree 100%....the PP was a gross devaluation of share value and they should/must have known better!!! 30M for 12% of TKO is a complete fail...period. Doesn't matter what they say it was for.....only 1 qtr of cash from Gib at most. I am looking at this as an outlier mistake, it's done and hopefully we can move on much smarter in financing Flo build. Ideally we dont even need a jv.
Comment by
dheadley on Dec 11, 2020 11:38am
Let's suppose the board had offered to PP to existing shareholders....i.e us. How many would have jumped at it and how many would have sais no effing way.....we don't need more dilution?
Comment by
KentWilkens on Dec 11, 2020 1:03pm
dheadley, great question, the company needs cash, you have the opportunity to provide it at a discount to existing market, and receive shares for your trouble, increasing your stake in the company, rather than diluting it, if you pass, it is your choice, but you know those shares passed to existing owners, not outsiders.
Comment by
dheadley on Dec 11, 2020 1:35pm
I guess the company could issue a news release or some kind of pre-announcement intending to issue shares. They would have to make it clear what the money is needed for. That would give existing shareholders the option of buying some cheap shares or leaving in disgust.
Comment by
dheadley on Dec 11, 2020 1:53pm
I'm kinda surprised the SP has recovered as well as it has. There must be lots of people sitting on profits. The permit news helped no doubt.