My target for Gold is to retrace towards 890-1040 support. I...

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microspecs

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15/04/20

14:43

Post #: 44056743
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Originally posted by Jack1960: ↑

Interesting analysis microspecs, supported by genuine precedents from both old Companies Act and more recent Corporations Law. I do not disagree with the spirit of your historical analysis. I remember some of the cases as they were in progress, possibly you do as well.

That said, the recent post COVID-19 capital raising modifications relax much of what was previously considered shareholder oppresssion. Shareholder equity principles have now been replaced by a more fundamental corporate survival yardstick. A non renounceable rights issue in the current climate would be lucky to raise more than $10m or $20m from shell shocked retail shareholders effectively diluting them to oblivion yet in accordance with all current applicable equity raising conditions.

I have been long VRL for over 20 years, but don't mind aggressively buying and selling where the occasion arises. In reality, the VRL gains are over 100% in a month, on some decent coin. That's more than enough for me since I am also building a significant precious metal position and I wish to add to those holdings. Precious metals remain my ultimate insurance policy against a failing financial system that I believe will destroy the capital/saving of many, within 5 years.

As for the theme parks / movies bouncing back. I don't particularly buy any of the BS released from China. They have lost the battle for the 21st century in one hit - called the Wuhan virus. The world will never forget social and medical loss of life impact or recover the cost of this monumental totalitarian cover up.

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My target for Gold is to retrace towards 890-1040 support. I know you think this is a strange call, but.....

VRL Price at posting: $1.85 Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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