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Metalduster

7,856 Posts.

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02/07/14

07:14

Post #: 13597864
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Originally posted by headbanger ↑

Another eventful day. I expect we are now in for a long boring phase before we get some meaningful news.

I am having trouble getting my head around developments and how things might evolve from here.

Our 25% share of the joint venture must strike a potential buyer as a poisoned chalice. Why would any outfit (e.g. Cameco) want to get into bed with H/Q on a 25:75 basis and expect to fare any better than Alliance has?. However management tell us they have fielded several expressions of interest so this marriage made in hell is obviously not putting off some potential buyers.

Our management has hinted that the RCR valuation (74 cents NAV) is what they think the asset is worth. A potential buyer would have to make an offer in this vicinity. Quasar just have to bide their time and match or better any offer. It seems a bizarre situation that it is in H/Q's interest to be as obnoxious as possible. They are in the business of scaring off potential suitors. They will be as unpleasant and uncooperative as possible. If potential suitors are frightened off then poor old AGS is left high and dry. They cannot afford to continue their marriage with H/Q and they will have to accept H/Q's divorce settlement terms. That would be an unenviable position for us long suffering shareholders.
Cant help feeling our management has made a mess of things. We have lost control of our own destiny and are dependent on a willing buyer to save our bacon.

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Spot on HB

Md

AGS Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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Another Positive, page-21

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