Hi TenX,
Thanks for taking the time and effort to respond to my post from Tuesday. I appreciate it.
Thanks also for clarifying the timing of your comment "I personally would have handled it differently" and that subsequent conversations took place with Gary about the approach.
To be honest - I'm not sure I have the critical thinking that's required on this particular matter.
So my comments are more an observation whilst we wait for the show to unfold (to see what value can be added). I appreciate things will be more complex than what I convey.
I think as well as price and value, there's also trust, time and timing that could potentially be added to the mix.
I appreciate we're on a promise for now re R&B and the value they may bring.
As things currently stand for me - Jeff & Gary have given ground now, in order to take ground in the future, that they appeared to already have within reach. Perhaps they will end up taking further ground than I imagined .... and quicker now that the R&B cavalry is on the horizon .... so we'll wait and see.
It must be an interesting world in which they live. You introduce a potential buyer of their options ready to talk @ 1c. Yet they feel constrained by ASX rules and circumstances that could drive the SP higher. So later on they then embrace R&B at .0085 with little interference. (Granted they did get an extra $1m).
Tradingdreamz made a solid point. Last Friday, I thought this was tracking along for the CN to be converted at 1.1. Now, I'm not so sure that's a given. They have the cash now to pay for C10, repay the CN holders and Jeff could reset at .0085 via his 30m options some time within the next year and have a lot less skin in the game, than if the CN was to convert in December.
In fairness to Jeff he did put up the bulk of the CN two years ago, to help get things moving. What he does there is his business.
So once again we'll wait and see what happens. I can't wait for the main show to begin.
Whilst fully appreciating the growth story and potential, I've had a number of amber flags go off on TSN/VOR in recent months, which is why I can't fully embrace the R&B story atm.
Why I offered the PET example (or any variation of it) is that it comes across as Regal wanted in and the PET directors said - sure lets talk price first and then you can tell us what you can bring to the table.
Everyday the ASX serves up situations like this, with no right answers, which is why I like to reflect. It's been interesting reading the cross section of opinions this week, especially those that have changed or softened along the way.
cheers & gltah.
