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Nevada Gold & Casinos Inc. Message Board

don_t_panick 7 posts  |  Last Activity: Sep 23, 2015 5:17 PM Member since: Apr 4, 2001
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  • Reply to

    cheap oil

    by akeyedoc Sep 22, 2015 2:37 PM
    don_t_panick don_t_panick Sep 23, 2015 5:17 PM Flag

    I have solar panels on my roof. They were cost effective only because of massive subsidies at the state and federal level and huge taxes on electricity bought from the power company. They don't work at night, on rainy days or even all that well in the winter. Natural gas plants are on standby to make up any power I need,
    Telsa is a govt subsidized toy for the rich with a limited range. Probably more limited if you run the AC. Most people don't have solar panels on their roof and will charge it from the grid. Most electric on the grid comes from natural gas. 80% of MHR production is natural gas. Hard to see how this hurts MHR.

  • don_t_panick by don_t_panick Aug 15, 2015 1:40 PM Flag

    EXXI just declared their upcoming preferred dividend on EXIXF in cash. The SDRXP dividend is being paid Monday in shares of SD common. As I pointed out awhile back, until recently those preferred issues traded for less than the MILL preferred issues. EXIXF is still super cheap at 10 cents on the dollar. SDRXP is at 15 cents on the dollar. EXXI has 850 mil in liquidity and a swap with the 2017 / 2018 debt holders is likely to reduce debt. SD has 1.5 bil in liquidity and just did a $500 mil deal which reduces debt at less than 40 cents on the dollar.

  • Reply to

    Great article

    by verado Aug 8, 2015 10:58 AM
    don_t_panick don_t_panick Aug 10, 2015 7:42 AM Flag

    And on the subject of integrity, as I recall you started posting here for months claiming not to be a short. Then you claimed that you were not a short, but were "shorting it in your son's account". Now you claim to have been a short.

    Don't lecture others on integrity, until you find some yourself.

  • Reply to

    Great article

    by verado Aug 8, 2015 10:58 AM
    don_t_panick don_t_panick Aug 10, 2015 7:30 AM Flag

    I've been posting for some time that people should swap out of MILL into PTAXF, TAOIF and EWPMF. None of those have done great on the oil selloff, but those are debt free companies and none are at risk of bankruptcy. They are down less than most energy sector micro caps and will be around for the next up-cycle.

    I've been out of the MILL issues (except for the occasional short term trade) for some time. I've often advised people to swap into other issues from MILL-PC / MILL-PD such as SDRXP, GDPAN and EXIXF lately. Those are down on the oil selloff, but all are still paying dividends and have good liquidity.

    As I recall many folks complained that I was posting off topic, when I've suggested other issues here. Unlike you, I don't think that MILL was predestined for failure. I think they had chances to succeed and didn't execute. I liked them at one point (did very well trading the common, preferred and options on balance) and changed my opinion as results missed.

  • Reply to

    Great article

    by verado Aug 8, 2015 10:58 AM
    don_t_panick don_t_panick Aug 9, 2015 7:16 PM Flag

    I think you're beating a dead horse at this point Verado.

  • Reply to

    Moving thread up

    by odarev Jul 4, 2015 10:38 PM
    don_t_panick don_t_panick Jul 7, 2015 6:21 PM Flag

    I still think it's more of a statistical probability to reflect the fact that MILL is clearly a distressed company. I don't think Apollo really knows what they will ultimately recover. If a company has a pool of accounts receivables they are going to take an allowance against them. They don't necessarily know which ones will be bad or how bad they will be, but they try to take a reasonable guess for accounting purposes. That's all Apollo has down and I don't think people should read into it.
    The above is not intended to defend MILL. Why anyone would own MILL-PC / MILL-PD when they can buy EXIXF (shout out to "Long Player" for his seeking alpha article) for a bigger discount to par is hard to say. If MILL does go bust, the 10% valuation allowance by Apollo could be really low. If MILL does fail, Apollo deserves a lot of credit for the huge loss they will undoubtedly take. Had Apollo not taken such a hard line with MILL, the company might have had continued access to capital and been in a somewhat better position. Some of the moves that Apollo made (overly restrictive covenants and the huge markup in interest rates) may not look so wise in retrospect. MILL was already up the creek, but Apollo took away their paddle.

  • Reply to

    so what does this mean?

    by lestercohen37 Jul 6, 2015 5:36 PM
    don_t_panick don_t_panick Jul 7, 2015 9:42 AM Flag

    The agreement is very positive since it raises regulatory capital. You may see it as just putting cash from one pocket into another pocket, but regulators count cash more in some pockets than others.

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