My big concern isn't debt so much as what terms they get on that debt. I don't think they'll go crazy on the leverage, since they seem conservative, but if they're getting variable rate loans that's going to kill a lot of the inflation hedge of the land.
As far as the valuation, they seem to still be adapting to the new REIT model, and ramping up on purchases, so I don't think we're seeing the full value yet. Still some unknowns. But I like the concept enough that I've made an initial purchase to keep an eye on. If it looks good I'll triple it later.
I just discovered this yesterday. I had looked for a farm holding company in the past and didn't find anything good. But with food demand ever increasing, I knew I wanted in on this space. Even considered (briefly) buying a farm myself and renting. Glad I didn't, better to leave that to the experts.
But this is a very small reit so I wouldn't expect a lot of traffic on the mb until they get bigger.
Personally I hope there isn't. I hope it was just management trying to conserve cash while getting those fat TMED shorts off our back so we can finally stand up and start moving forward again. From a crawl to a walk, then once the debt is addressed, we can start to really run.
I doubt much of the commentary going back and forth had much effect on people buying or selling. Basically your "marching order" was to do a lot of propaganda work that probably had zero effect on the share price. Why bother?
I'd rather see them use and "extra" money after debt to expand the MM property. If they have the reserves there we think they do, it would be a lot cheaper
Bets to the short side are 100% about timing. Look at any long term chart for the value of a dollar. Buy something and wait for the dollar to fall and whatever you own will be worth more. That's why even poorly run companies can make more money and get higher stock prices if they can just stick around long enough.
why? The price hasn't changed with even with $15 moly, so buying now, you get it at the $10 moly price.
Been burned on that many times...holding out for a few more pennies and miss out on several dollars.
The market tends to be way too bipolar for me. Today you read prices heading up! Tomorrow its prices are heading down! Usually with a grand headline like "Copper plunges to lowest price on record this month" which accompanies a shift of 2 cents or so. bah. I'll wait for it to actually move.
Body snatcher probably copy Do's wife and keep original around too so Do have 2x as many people telling him what to do around the house. Do better off letting body snatcher stay home to deal with that while original do sneak out and go have some fun.
I agree. They're trying too hard, so there must be a reason. My take is that they are giving some big player an easy out on their shorts in exchange for some big favor yet to come...such as a good set of refinance terms down the road.
Before or after interest expenses? Long term its good to keep in mind that paying off the debt moves all of those interest payments into the profit column.