Yes WHZ is a steal at its current price; on March 23, 2012 its first day of trading, Z opened up at $21 and closed at $24.46!. Right now its close to its bottom since it first started trading and is currently offering a yield of 19.5% and its got year's left before the trust teminates
Just pure wishful thinking, I am looking for .75 this May. If they pull a production and cost containment miracle out of their butts, we could look at .95 and a return to 20.00
That would be a windfall on all the various calls I am holding, and in line with their prospectus.
I have been faulting them for costs, but they have been drilling. It could be with aggressive drilling now, we see overproduction in the next 36 quarters and substantially exceed the prospect volumes.
You can hardly miss at this price though. Per quarter is around 1/3 the price of whx.
Anyone holding X can sell two shares and buy more than one share of Z. Instant value enhancement before realization hits and X drops to 4, and Z goes to 16.