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06/03/20
10:55
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Originally posted by Hiddenvalue:
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Unfortunately we need some quality institutions on the register. SP will never get to the $300M- $500M MC with retail owning 75% of the stock even with a turnaround. My opinion is that this is the price we have to pay to flush out and make room for the smart money. No doubt in my mind things are turning around. Think, if this was such a basket case and management are as stupid or crooks as some retail post here which I don't believe they are, would they be getting $26M from market and quality overseas investors??? Do you think Delphi would be willing to underwrite $26M with operations being bad, they would have to sell $35M plus on market to recover investment in BLK if you consider their 20% holding prior. To me they seem keen as mustard to throw some serious money at the project in order to unleash it's full potential.
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It'll be interesting to see how much investment appetite shareholders have with this CR : the commentary & dilution figures on pages 33 - 35 of the Prospectus are pretty interesting. Delphi could be all smiles after the CR.