Banter and General Comments, page-1862

Without POSCO = $2.50
With POSCO $ no dividend = $2.50
With POSCO $ with dividend = $4+ possibly

Something is definitely wrong. By not declaring a special dividend, the shorters are celebrating. It’s an implied acknowledgement that we’re a failure at Mt Cattlin, that our MC mine is nearing its dead end, kaput, that it cannot produce $200m free cash flows in the next 2 years, that we have to keep the $300m in a safe because that’s all the money we have and if we didn’t have it we’d be dead meat as far developing SDV and JB. Come on AT, you mentioned previously you’ll discuss the matter and report back. If you guys declare a special dividend now because MC is a going concern, the cash flows in the next 2 years plus a “portion” of the POSCO money will be more than sufficient to develop the 2 other projects and that you also assert your enduring management prowess or ability to form Jv’s, obtain offtakes and/or optimum funding mix.

Geez, galaxians are super vibrant but the SP has been blind, deaf & mute for too long. We’ve gone nowhere in the last 18 months sp wise