Ann: Dividend/Distribution - GRR, page-136

Since you don't hold, that's perfectly fine. I'm confused about all the people here who claim to hold (some millions of dollars worth) and yet don't trust their own board to do the right thing with that money... why did you buy the stock if you don't trust management? Just looking to tear through the held capital for a quick buck?

The board in due time will make an announcement about what they intend to do with the capital and that's how they should be judged. For example, they may wait until the receive the results of the PFS, then decide the project is not feasible and pay a special dividend. Or they may receive a favourable PFS and proceed with the project. Or they may acquire an attractive company in a similar space in a bearish iron ore market. I doubt they are going to the pub with your potential divvies and having a piss up, though.

The company remains profitable, has a huge cash backing, and prospects for growth. If you sell it down because you think the SP trades solely on the basis of the dividend yield, then you'll be at the mercy of the IO price fluctuations and either luck into a bargain or be left behind. Nothing wrong with playing that game, but it doesn't mean any of your absurd logic about the SP "being $1 if they declared a 5c dividend" is correct.

I know some of you think I'm attacking posters here, not the case. I'm very strongly against the views of some on this board that it's ok to rally the troops for a board spill when:
- This board generated those profits
- The board hasn't had an official say on what they will do with the money
- Posters that are calling for blood have openly stated that they sold down hoping to buy in lower
- It has no chance of succeeding anyway

If you're a holder - I'm not the villain here, I like what they are doing here for the long term health of the company. All I've said to the lynch mob above is that if they are unhappy about the plan then they should sell. Is that offensive? I would consider that sound logic.

You self-funded retirees are way too addicted to your divvies. It's clouding your judgment.