Post by
rgonlyfactspls on Nov 19, 2014 5:35pm
"Estimated market value" for the VMC...
At the AGM Mr. Olds tried to answer the question of an "estimated market value" for the VMC indirectly by providing some framework, as he termed it....putting a replacement value, if built today, at $60mil and the original cost to build at $30mil. This was offered after Dr. Berendt reflected the "estimated market value" question by saying he did not want to have a figure publicized as he was trying to get as much as possible. Mr. Rae interjected, possibly twice, that keep in mind it's in Belleville, implying not exactly the "go to" location for a site like this. I really wish I would have said what I felt... "For long time shareholders, I am sure many (like me) would have much preferred the VMC go for a hugely discounted $10mil and avoided the recent financing/ further dilution." As much as I believe the new Team is making a lot of the right moves...don't get the sense they have a sense of the angst to hold BNC for years at "dimes to the dollar" (or factor this into decisions that may have options that take this into account and may be just as/nearly as good). rg
Comment by
rgonlyfactspls on Nov 19, 2014 5:56pm
Thanks Beech...was not aware there still is $9 million of debt directly associated with VMC. rg