I understand the sentiment behind the idea that something needs to happen prior to the "expiry" of the USCG engegemnt but I can’t say I agree with the idea that if we don’t hear something in the next few days it’s going to be a long haul until something does happen.
The fact of the matter is we have no idea where the special committees and such are at in the process of a transaction.
The facts we know regarding the potential transaction:
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Uscg has completed due diligence on Lme.
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the special committeee is in place
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Lme has completed a property of merit report validating the data room. A huge plus for a buyer.
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Cynthia has confirmed via LinkedIn that the m2 vein is continuous into the acquired twin falls property. Again, a huge plus for the buyer. The ishkoday is wrapped with a nice little bow on top ready for a new owner.
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the 250k deposit is recoverable by Lme if a transaction doesn’t not close by August 21, 2024.
I want to talk about the last point for a second. Now recoverable and automatically surrendered are two very different terms. If the special committee sees fit to extend the agreement it could be that they need another month, maybe three, maybe a year. Who knows, certainly not anyone here, myself included.
If they announce a deal prior to the 21st that’s obviously positive, if they extend I see that as positive as well it means someone (potentially more than a single party) is at the table and things are taking longer than expected for any number of reasons. The only negative scenario I see is if they do ask for the 250k deposit back.
I invested in Lme because I believed in its potential. I still believe in its potential to this day, now more than ever in fact. Did I think a transaction would happen by now? Absolutely, but it hasn’t. Our impatience doesn’t diminish the true value of the ishkoday. Our impatience and emotions only serve as entertainment in message boards and a hammer on the day to day stock price.
Try to stay positive everyone. Don’t forget to “enjoy the ride” ;)