Good balanced post Maplelegiin. I’m hoping that IC and NE can flex their collective muscles and that our/any negative posts will not have unforeseen consequences. .. But, in the interests of openness, post I will.
Prudent advice too, farout. Something seems not quite right .. or, to be melodramatically pessimistic (apologies to Shakespeare), .. « something is (substitute ‘seems’) rotten in the state of Denmark » ..
I know that ALK shareholders don’t like references or comparisons to other stocks, but history often throws light on the future. So, after reviewing the history of that other IG dominated stock that I had direct experience with (AGS), I did pull a future ALK order (based on fundamentals) that I had sitting with the broker.
Until we can see the larger picture behind IG’s selling my instinct tells me to be wary.
For those who don’t mind comparisons where 2 BODs and governance and control have much in common .. here’s one:
Thanks to hotcopper keeping available all historical posts of the now privatised AGS, I was able to re-live that awful saga that followed the smashing of its SP following the 2010 decision by the BOD (much in common with ALK) to take their JV partner to court to regain 100% .. (greed?, naivety?)
That was in 2010 and B4M was producing and stockpiling. And, despite having cash in excess of $40 million, it was disastrous for LT SHolders. ..After years of pain AGS terminated the court action in 2015 and accepted the sale of shareholders 25% of Beverley Four Mile (including a stockpile that some said was worth $59m) for $74 million. ..One analyst posted a worked assessment at the time giving a value of $138 million. ..
So, after CR after CR, a threat of bankruptcy and then total capitulation there were enough votes for the offer to be accepted ….
The rest, as they say, is history… AGS and all its tenements (thanks also to OPM) is privately owned by Gandel Metals.
It’s laborious to do, but if long term ALK holders want to witness the power a major shareholders can wield I would recommend that they read some at least of the 2015 posts still available on HC….
Happy New Year everyone.. hoping ALK’s fundamentals will prevail in 2023, and that IG will apply his power and his control, and the company’s good governance ethics, in the best interests of all minority shareholders.
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