Re: P.F Chang's...napkin proof of 'Tyhee 2012'
in response to
by
posted on
Dec 15, 2011 12:20PM
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We've come too far Ike, for these accomplished men to settle for anything less than what they've planned to finish all along. They witnessed the prior investor from a year ago, and promised DW better. imho
As you read between the lines, Hans, how do you see getting rid of the SH protection leading to completion of "what they planned to finish all along?" What is the end game you believe was settled upon? In other words, what was promised to DW do you think? Is it a sale or is it building a mine?
Seems to me if building a mine, they may be out of their league for financing in the market using TDC as the base for that, and given the low share price and the dilutive effect, unless they raise the money themselves on their own bat under Interinvest, take the company private, and take all the risk and all the benefits. This alternative means a takover by Interinvest and going private.
We already know that a Williams Creek takeover is not an option as has already been discussed. Do you think DW cares about a takeover, or is it just a Williams Creek takeover that puts him off? In which case, the elimination of the SH protection to facilitate a takeover was really a strategy (even a ruse) to see what the market might offer, but not a serious effort to induce a takeover. Does the market see through this strategy, and recognize that the intention is not to engage in the market at all, but to simply raise the share price? If so, it seems rather a dumb thing for the TDC Board to send a contradictory signal into the marketplace. Or as we used to say in a union I once belonged to, "sucking and blowing at the same time."
When DW says no Williams Creek takeover does he also imply no takeover from interinvest as well? Or is his concern that if owned by Interinvest and not Williams Creek he will be able to maintain his independence in building the mine, and that this is really what is important? In other words, does he want to just build a mine any way he can, or does he want to build a mine with a public float?
If the goal is a sale, and the elimination of the SH protection was to facilitate the sale as you suggest, and Interinvest are picking up shares at these ridiculous prices, their acceptable price for a sale obviously comes down. So sure, the price will go up when an offer is made, but those of us who bought shares at .40 or whatever will be left holding a big loss, which I certainly do not want to do. I would prefer to see production with a public float.
In any case, we can follow the shares down and purchase more now (as I did with Crocodile Gold by the way) and reduce our average cost. I think the price will certainly go up from here, but I want to clarify that neither the current price nor the possible sale price reflect the real value of this project, and the price that was paid by many of the shareholders.
And I want the adventure to continue of watching this little firm struggle like the little engine that could, and succeed. Best,,, Ike