Basically... I am very unhappy setting up a retirement home for management with ~$17M in cash and a producing asset, this seems way too generous for a mob that hasn't been very honest with shareholders all the way along this ride. They can take $2M in severance pay to be split, and a handshake FOR WORKING for US.
I would much rather prefer 13.5c from sale + about 2c for the rest... 15.5c.
Best possible outcome is a rival bid, before shareholder vote (30% chance), take the whole lot for above 15.5c.
Montney was literally a real kick in the teeth, was heavily oversold for many years by this management, the golden pot at the end of the rainbow. I won't ever forget this. Sold in the end for next to nothing, along with basic infra-structure and 2 well sites. That was a shocker of a deal, given the expectations set up by management.
The 0.4c of capital return is due.
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7 | 4889102 | 0.008 |
5 | 5658571 | 0.007 |
9 | 24468617 | 0.006 |
11 | 15762000 | 0.005 |
Price($) | Vol. | No. |
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0.011 | 150000 | 1 |
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