I agree - I had all my shares of WGO converted to STX (was a large shareholder - Top20 in that with combined accounts), and then also had my TPD converted to STX as well. I shared the long-term vision of STX and the potential prospects of being a producer, or being bought out at a large premium.
I hope we don't sell all our assets - for a small gain - I understand some shareholders are losing patience and SE1/2 has cost us a lot - over a period of time now which has hurt - and for shorter term holders that were hoping a take over after WGO they wouldn't be too impressed.
Gas will definitely play a long-term role here, otherwise Gina et al. wouldn't be buying up long-term, and is definitely the transitional energy source towards renewables.
We already have some income and more to come online in SE Peaker plant, and some really good prospects which holds some excitement.
I just hope if we sell - we only sell partial asset, and not due to a distressed sale but for a premium price, and then go on to develop our other prospects.
I personally would rather a CR rather than sell some asset or full assets at a lower price - I would hope a lot of shareholders feel the same way - and hope the BOD and new CEO doesn't just want a cheap, quick sale. This is definitely not in the best interests of majority shareholders and we need to be strong on that front.
STX Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
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