Ahoy thar sailors. I'm awaiting for some concrete earnings before I'm dipping my boat in this one. A quarterly $5 million profit after all expenses and it would be good value at current price. Unrealistic talk of $2.50 - $5.00 takeovers is plain silly. The average premium from the last 220 takeovers is 35%. Mining companies attract about double the average, so around 60-70%. Talk of 500-1000% is dreaming.
On another note, I once knew a Chief. Kapton was on the high seas looking for a "takeover target" when suddenly a shining light appeared across the water. the Kapton has his deckhand "aurifice" instruct the other vessel to change course 10 degrees south. The response was promt: "This is the Chief, change your course 10 degrees north". "I am the Kapton of vessel "Fish N Ships" he responded testily. "Change your course 10 degrees south" The reply: "I'm a seaman first class - change your course north." The kapton was furious "Change your course now. I'm on a pirate ship!" "Change your course 10 degrees north, captain. I'm in a lighthouse!"
MCO Price at posting:
48.0¢ Sentiment: None Disclosure: Not Held
