Oh my nothing like today's news to bring all sorts out to comment on HC.... I suggest we wait to have details confirmed by management before getting to worked up about things (and also suggest ignoring any new posters who suddenly show up on OGX threads!)
A few points to consider in the meantime:
- To date, the new management have demonstrated that they aren't mucking about and are trying to fast-track getting OGX back onto a prosperous path.
- If it's true they are doing a CR via a placement then I sincerely hope (and expect) it is via a relatively small number of select investors; it's quick, efficient and cost-effective. This seems likely given they are handling the CR in house. The whole thing can be done and dusted in a couple of days and then get back to the business of growing the company's prospects.
- Given the connections the BoD and large shareholders have, it wouldn't be hard to find those investors, and in all likelihood, they'll be investors who will hold for long term gains as opposed to turning their shares around for a quick profit (thus putting more downward pressure on the SP in the immediate/short term).
- Also if true, the $0.12 price tag is good news. CR's usually have a discount price attached to attract investors, so essentially the BOD are saying this is already at a discount and we should expect SP growth. To me, this also signals that the CR/TH will be closely followed (or released before the TH is lifted) by price sensitive news that we can expect will push the SP up, eg more grades/HM3 results.
So in summary from me, let's not dick around with offering the CR to holders (this will only hold the SP back and take time to play out for both company business and on the stock market).
And I say this as a shareholder - the best thing the BOD can do for us is not ask us to reach future into our pockets for this company, but for them to find investors they respect and who will support this company going forward. Get the capital, preserve the SP, commit to a business/operational plan that gets us to maximum possible production asap.... that's how we as shareholders will realise true growth in our investments.
If any shareholders feel they've missed out and wanted to participate, then show your support of management by buying more shares on opening.
I'm sure this will attract a bit of criticism, and I apologise for somehow having pulled out my soapbox, it wasn't my intention when I started jotting down my thoughts. But there you go... these are my thoughts on today for what they're worth.
IMO there's nothing here to loose sleep over and I'm happy to wait and see how things play out tomorrow and don't intend to comment further until we have details from OGX.
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