Arnold was more right than wrong at least at the big picture. As was fiddy cent. Perron made millions driving this from $3 to 60c. Unbelievable.
We are TC shareholders. Can give a flip about CG right now. They're not suppose to get a deal of the century when it's not warranted.
Skip, they have zero choice but to do some form of liquidity event (asset sale, stream, whatever). They'd be FAR better off in that case to buy some of the unsecureds at discount now. But of course that should've been done in feb/March.
This whole thing reeks SO freaking bad.
I already reached out the SEC. Not sure when I'll actually be able to meet with them though. Next week? IDK yet. I'm on the fence about using actual player names at this point. Maybe keep it generic for initial chats.
I'm not against the deal-- I'm against the rock bottom price they got corrupted by.
Not buying back "free" debt in q1&2. Not buying back any of the cheaper debt before accepting the offer. Not selling 1/2 company or MM to close out 2017 & 2019 then refi the 2018. All the incestuous relationship shenanigans. The list is never ending.
Crackle, here's the other thing. They keep yapping about options etc. well, buying down $50m face for just $8-10m cash would've popped the price. Giving them a little bit of a new option dilution.
To me, as of today, I would have to say that moelis and bmo are D-lister team at best. Maybe they can put hat out of hat but as of this precise moment my thinking is bmo, moelis, and TC are all looking like grade schoolers.
The day Bush Jr took office, total debt was almost $6T. The debt on his last day of office was $10T. Bush43 increased debt by $4T. Not good, I'll grant you. But our illustrious Obama took it from $10T to over $20T by the time he hands over the keys to 45. That's an increase of $10T. Ya, he's an economic genius.
I have faith the Perron saxton will crater the business left behind.
No. $1bcad is not the number. even at $2.06 cu and $1275 ($833 net) au, that yields $140m cf. If moelis/bmo is dumb enough to let them sell one if not the lowest cost cu mine in the world in a geo safe country for 5.5x CF then they need to get out of the advising business.
I've said it many times... Leaks in the case will happen if no indictment. Obama will have to pardon her if she wins.. During the transition period. And she will go down as even a worse presidency than Obama. There is no way that no leaks happen if no indictment.
Skip, I think that ship has sailed. Buying 17 back at par would really accentuate their ret@rdness. 3 months ago at 70% was bad but par now is smart? I do t see it. But yet again... It would highlight their stupidity so that's probably what they'll do. Lol.
Seriously though.... I don't see them buying down any debt until they have some form of liquidity event via asset sale etc.
Lil, Perrin only has about $150k in shares. In no sane world would someone reasonably say that THAT gives him skin in the game. Some folks on here have more shares than that. (Well, claim to but no reason to not believe them). I (between all my personal/business/ira/etc accounts have more than most of the execs. I regret not selling out when Perron did a few years ago. (He could've but didn't buy any).
I wouldn't doubt it. Sadly.
I know some on the MB give the 3 stooges a lot of benefit of the doubt. In my opinion far to much. But its their prerogative. To me, With they've earned it... Then ok... But ALL evidence to date only serves to support the 3 stooges moniker. Maybe they are brilliant and come up with a strategy that would rival the business equivalent for curing cancer. But when the researcher team have all flunked out of HS and have demonstrated no other "signals", the chances for that happening greatly diminish. Still theoretically possible but... Yeah, not really.
Meanwhile I have no choice but to keep the dreaded HOPE strategy going and pray they know their heads from buttz.
I'm telling from experience that it happens. Period. End of story.
It's nice to know that you think nobody in the history of USA Gov ever leaks info to press. I honestly don't blame you etc. I genuinely would love that living in that fantasy world. I think I really would.
BP was in a far more dire situation during the gulf spill 2010. They got hit with close to $50B in penalties, claims, etc. they were in a very bad financial spot. (Keep this to economics!). Very bad. Everything they did/said was scrutinized by billions of people all over the world!
They had every reason to keep a tight kimono. Instead they were very transparent. More than any other institution in history, arguably. They were open to saying which assets could/would be sold to help pay for the damages. They never said... We can't divulge our plans, etc. they came up with a strategy and they communicated openly on a regular basis. They earned a lot of overt and private support from "wall st", governments, even the people of the gulf. They turned the ship around. Still more to go but they've basically made it through the storm.
There is no excuse for TC's secrecy. It's hurting them more than helping.
So what would that make Hillary.... ??
Oh ya, a felon.
I can't disagree more. They didn't buy back free debt in February-April which would've had a 7:1 return. Shareholders are getting robbed in this deal. No sugar coating it or spinning it. It's horrible. It's incompetence from the 3 stooges!
None of the stocks are a "buy". Though I would say rgld is least bad... Maybe gray area of a buy.
I don't know how Perron saxton haddon can sleep at night. Oh ya, they got parachutes. While we got screwed.
Jim- when we are faced with choosing between an avowed communist, a felon, and a fascist.... We have bigger problems as a country. Period.