Your response highlights your total ignorance but you are entitled to an opinion. Thanks for sharing your thoughts. The reason MAD is in acquisition mode is because Blue Ridge is kaput. It's not the company's future - you and I agree & they know it - I wouldn't be surprised if they offload their Blue Ridge interest after the acquisition but I'm only speculating. Not only has Wells and Fargo made $500M available to MAD, it has done so at an interest rate that not even the big guys such as BHP and RIO can obtain. Which means one of two things - either the execs at Wells and Fargo are totally useless and stupid or Yeager has lots of credibility that they trust him, almost unconditionally (there are caveat & conditions attached to the $500M credit facility). You're in the "they're totally useless" camp. I'm in the other camp. I'm expecting an acquisition this side of June but again, I'm only speculating. Yes, Yeager made a mistake that I'm sure he now regrets and that was to promise the doubling of production and share price when he first stepped into the job. He should have said nothing, performed the due diligence and then plot a way forward. But that's in the past and I still given him at least until mid year to prove his worth. Perhaps I'm stupid too but I'm still fairly comfortable about the company's prospects going forward. In fact, the collapse in oil prices puts a smile in my face because I am totally comfortable that MAD will acquire a gem at bargain prices whereas 6 months ago a quality oil and gas target would have involved a significant outlay. Now days we have companies in the Eagle Ford formation that have fallen as much as 70-80% in value since Sept 2014. We're talking about producing companies with sizeable reserves but heavily leveraged and paying 14-15% for money. It's the gearing that has got these companies into a financial mess, not the quality of the assets. You would think Yeager & Co would be performing due diligence on these companies. Well, at least I hope they are. Best wishes, Nando.
FDM Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
