Aussieaye, The price will be pegged near $9 until the secondary is sold. I believe that this (unfortunately) is allowed by the SEC
The MM have had RMTI basically pinned near $9 and will probably keep it there until the secondary is over.
I hope that we do not have to wait for next quarterly CC to hear what mgmt.'s plan is for their upcoming cash hoard. Mushroom investing lacks clarity
I felt betrayed by mgmt when I made several posts yesterday. Today, I am hoping that mgmt. knows something that I don't that caused the need to raise more capital even though they indicated that there was no need to do so at the shareholder meeting.
I'm going to give RMTI the benefit of the doubt and hope that they are working hard to raise shareholder value (longer term) and I eagerly await FDA decision time in Jan for Triferic
This has been the worst managed company that I have seen in the last 3 years. I remember when Jim Cramer had the prior CEO on Mad Money. Cramer was pumping the stock as a buy. What a joke. How could things have gone so badly
I listened to Cramer, the quarterly conference calls and luckily got out with a small loss in 2012. I really feel badly for the current shareholders. This was once a great company. I hope that they can reorganize and will make it, but they have a lot of problems. I've learned that you can't trust the pundits and analysts. There is a glut of iron ore out in the market and CLF needs to go into a survival mode...cutting costs, downsizing, etc and just trying to make it until I/O prices turn up again
Good luck to all the longs
That is my question also. At the Shareholder meeting that indicated that there was no need to raise more cash. Now we find out that they are raising $50 million + in a secondary. I would be happy to just find out why the cash is needed...that's it...are there any more "surprises" out there?
I bought 5000 shares at $12.45 and should have waited for a lower price. I'm holding and hope to hear good news about the 2015 dividend. I think mgmt will talk about 2015 dividends sometime in Dec
I also feel betrayed. If you went to the shareholders meeting, the question was asked about the need to raise equity capital and RMTI said no need. During the last CC a couple of weeks ago, there was no discussion for a need to issue a secondary. All that I've heard from mgmt is great things about Triferic. If this does not get FDA approval, the price will drop another $2+. I can't trust mgmt to tell shareholders the truth. I'm holding through Jan to see what the FDA says and will decide then whether to sell or keep my shares
FCX will earn $3 easily if:
will earn closer to $4
The commodity cycle will turn around, but it will take some time to do so
There is a large supply of I/O coming into the market in 2015/16. This is forcing the price of iron ore down to multi-year lows. New projects will be cutback/scrapped. How long will it take to get the supply imbalance to be absorbed?
I was also there and heard the same thing. I guess that is why I feel betrayed today.
This is the typical commodity cycle. Demand causes investment in mines which leads to excess supply which leads to lower prices and companies curtail investment, which leads to more demand than supply and higher prices, etc. The same thing is going to happen with iron ore. I'm long FCX
RMTI is getting about $50 million from Baxter. They have