where to from here?

Ok so I have been giving Tribune some more thought,

Pros

MC $50 million
Potentially $150 in bullion reserves
Shareholdings in Rand
Highly Profitable mine
Highly prospective Ghana gold interests

Cons

3 directors own 90% of the stock.
No requirements for capital and if they did bank loan wouldn't be an issue.
Bare mininum disclosure of company activities.
Company moving towards private ownership.


So based purely on the assets this is screaming buy. However the question is from here where is the capital growth going to come from?.

I believe a dividend or capital return is out of the question. The more I research the more I become convinced the directors want to turn this into a private comany.

So based on this theroey how are the directors going to go about mopping up the remaining shares?. So far releasing mininum information to market and pursing liberian iron ore deals has done a great job at pegging back the share price. Considering they have time on their side they could just run like this for a few more years and let the sp drift and mop up small packages with the buy back?.

One thing I'm not sure about is there anyway they could compulsively acquire the rest of the holdings?.

I've made good money in the past on Tribune, and I'm itching to pick up some more, however there is some clear reasons this company only has a market cap of 50million and I'm trying to work out how a small investor is going to profit from this setup moving forward.

The best case I can come with is they come out and make a good cash offer for the remaining shares, worst case it they have some lowball compulsory aquistion or some how manage to divert the assets into another company.

Interested to know how other people see this playing out?