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Wright Medical Group Inc. Message Board

uniowner 51 posts  |  Last Activity: 15 hours ago Member since: Jan 8, 1998
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  • Reply to

    Gr#$%$

    by whetstoned 18 hours ago
    uniowner uniowner 15 hours ago Flag

    Its hard to believe where SD is now and Oil is still well above $90 a barrel! A few years ago when oil was below $90 SD was trading much higher. It makes no sense. I bet management has yet to buy one share in the 'share buyback program'! TPG has not only not 'unlocked value' but may of hurt the value of SD since the market still isn't buying into the board of directors of which they have control of 4 of 9. There can be no doubt that there is no company interested in buying SD as a whole as it would be happening with the share price this low! SD has oil hedged at near $100 a barrel the rest of this year so I don't buy the fact oil has fallen 10% as the whole reason for the drop. The only good news is today was the last day of the quarter and I am willing to bet the multi-year lows were hit today and will not be broken. There seemed to still be a rush of funds leaving SD. I would not be surprised if Fairfax financial was a major seller this past quarter!

  • Based on April 29th FDA agreed to review PMA that makes @28 days left from today for decision. Hopefully, they compromise and come to some sort of agreement and post approval study. Otherwise this thing drags out for another year on appeal! Lets see if this dispute resolution panel is just that and resolves the dispute once and for all!

  • Reply to

    Gold Sentiment

    by sandiegoman99 Sep 25, 2014 5:25 PM
    uniowner uniowner Sep 26, 2014 2:16 PM Flag

    I hear you eye4neye374. Can't say I blame you one bit. I am more betting on the price of gold trading back above $1,250 by end of October than management of IAG at this point.

  • Reply to

    Gold Sentiment

    by sandiegoman99 Sep 25, 2014 5:25 PM
    uniowner uniowner Sep 26, 2014 1:48 PM Flag

    Wedding season is coming in India next month I believe so that should help demand of physical gold. IAG needs some more cost cutting and IF they sell Niobec they should use all the proceeds to pay down or off their debt if possible. That will save @40 million a year in interest thereby offsetting almost dollar for dollar the free cash flow they would be losing on the Niobium and the comfort of having little or no debt.

    Picked up a little more it just makes no sense this low IMO.

  • Reply to

    Crude Up... NG Up ... SD Down

    by jaylt Sep 24, 2014 11:45 AM
    uniowner uniowner Sep 24, 2014 12:37 PM Flag

    SD is a wealth destruction stock. Its worth more as a tax loss for many at this point. Once 'window dressing' is done by the end of this quarter in a week things should settle down. It appears not many want to show on their books they have SD or they haven't been unloading it since its one of the worst performers in the sector.

  • uniowner uniowner Sep 22, 2014 3:37 PM Flag

    Letwin and the IAG BOD worries about what may happen 8-10 years from now that a lot of money will have to be spent at Niobic which leads one to ask does he not have confidence in the direction of the company and where it and gold will be trading 6 years from now before such expansion would need to commence?

  • Reply to

    December $2.50 Puts

    by uniowner Sep 22, 2014 2:30 PM
    uniowner uniowner Sep 22, 2014 2:46 PM Flag

    Well, the all time low is $2.22 and closing low is $2.66 from what I checked. I never thought we would be trading below $4 much less $3 so I guess I can't blame them for hedging. Whatever it is some large investor (s) didn't like what Letwin was saying last week at the conference IMO

  • Lots of action today on the December $2.50 Puts. Another large bearish options bet on IAG. So far they have lost a lot of money even though they have been right on the direction of the stock.

  • Reply to

    Fewer new wells. Positive earnings scenario? Thoughts?

    by jaylt Sep 22, 2014 10:56 AM
    uniowner uniowner Sep 22, 2014 12:10 PM Flag

    I disagree as the huge declines have already taken place on most of their wells already. The drop off would not be as bad as you say as its only a 300-400 million cut in CAPEX it is not stopping their drill program. I don't see drastic production declines with over a thousand producing wells and spending 1 billion versus 1.4 billion but maybe I am wrong?

  • Reply to

    Fewer new wells. Positive earnings scenario? Thoughts?

    by jaylt Sep 22, 2014 10:56 AM
    uniowner uniowner Sep 22, 2014 11:33 AM Flag

    SD could rocket higher if they just said that going forward they will drill within their means based on cash flow and adjust CAPEX accordingly. The market does not like the company depleting its cash reserves to drill oil in a falling Oil and Gas price market. I agree that the debt is also a major drag.

  • uniowner uniowner Sep 22, 2014 11:19 AM Flag

    The heavy volume and more than double decrease versus other peers leads me to believe a lot of the selling is Letgarbage looking to rid the most valuable asset for bargain basement prices! Once Niobium is gone this $#@#! stock will be even more dependent on the price of gold so if we think its volatile now wait until then!

  • Reply to

    If they sell for 500M

    by leebagain Sep 19, 2014 12:35 PM
    uniowner uniowner Sep 19, 2014 5:01 PM Flag

    I agree. Niobibec is worth at least 1 Billion IMO. If anything they should sell off the gold assets except Westwood and expand the Niobium! I have suggested to the company to Spin off Niobium but I think they would rather 'give it away' to their friends it seems! Management here is playing with OPM (other peoples money) and are not acting accountable. We need an activist fund or investor to shake things up here. That is the only way things will change IMO

  • Reply to

    If they sell for 500M

    by leebagain Sep 19, 2014 12:35 PM
    uniowner uniowner Sep 19, 2014 1:02 PM Flag

    If they net 500 million they are giving away their Niobec mine as far as I am concerned. The Niobium underground is is worth billions with an expansion. They are giving away expansion for free and selling current production for next 8-10 years at 5x-6x earnings from it! That is all if Niobium stays at current price and doesn't move upward!

  • Reply to

    The FED is pushing on a string now......

    by leebagain Sep 18, 2014 10:55 AM
    uniowner uniowner Sep 18, 2014 2:14 PM Flag

    Point well taken angietheapple. I agree in that regard. However, I think they can safely shut down all production at the Africian mines for at least 2 years so it would make sense. It will take a lot of miners to finally slow or halt production at unfeasable mines to make a difference. I think right now there are around 3,200+ tonnes per year of gold produced which is at or near record worldwide output. If production just went to levels in the 90's where it was in the 2,000 tonne per year range (if memory serves me correctly) things would work out very well. Either way, IAG has Niobium which the market seems to give no credit for!

  • Reply to

    The FED is pushing on a string now......

    by leebagain Sep 18, 2014 10:55 AM
    uniowner uniowner Sep 18, 2014 1:43 PM Flag

    That is good to know and hopefully other CEO's will finally pull the plug on over priced non economically viable projects. Niobium is the Key to IAG in the short to medium term IMO

  • Reply to

    The FED is pushing on a string now......

    by leebagain Sep 18, 2014 10:55 AM
    uniowner uniowner Sep 18, 2014 12:21 PM Flag

    Good post leebagain. I think for Gold to start going up significantly there needs to be cooperation from the large miners to cut production. I.E. companies like IAG have no business mining in Africa where the cost above production has been and is and will be in the near and medium term future! Until there is less gold being produced the price of gold will have pressure on it. These central banks are in overdrive shorting paper products!

  • Reply to

    6% Preferred Convertable Stock

    by uniowner Sep 17, 2014 10:19 PM
    uniowner uniowner Sep 18, 2014 10:22 AM Flag

    dambatchew, that does make sense when you say that some of the preferreds may have been shorted as a hedge. It would only make sense if the margin interest rate were less than the preferred dividend of course.

    patsbaz makes a good point in that perhaps after the conversion Prem Wasta will finally have shareholder interests aligned with his.

  • IR finally got back to me on the Fairfax Financial Note. They must have been busy so I will give them the benefit of the doubt and apologize for my comments on them earlier! They showed me the copies of the SEC filing pages and highlighted the answers. The Preferred on the 6% note will convert on December 21st 2014 at a conversion price of $9.2115 per share or 18,423,000 shares. NOT at current market which I worried would be 40 million shares so that is some good news as far as I am concerned.

    The confusing part was in their presentations and even in the 10k and 8k filings that leads one to believe the conversion would be at current market prices at the time. It read, "On the fifth anniversary of the date of issuance of the 6.0% Convertible Preferred Stock, all outstanding shares will be converted automatically into shares of the company's common stock at the then-prevailing conversion price if all dividends are current as of such date."

  • Reply to

    Short party is coming to an end.

    by rondogokc Sep 17, 2014 12:12 PM
    uniowner uniowner Sep 17, 2014 1:09 PM Flag

    I agree IR sucks. I have sent them several emails and left voice mail messages for clarification on the Fairfax Financial preferred convertibles. Their silence leads me to believe they will mandatory convert at 'market' on December 21st of this year. That 200 million will dilute existing shareholders by about 40 million shares as it stands. Perhaps that is why they have that 200 million figure to 'buy' Prem Wasta of Fairfax Financial out. He seems to be the only one making money on SD after all these years other than board members and Ward family members!

  • Reply to

    Buy Back may have started today

    by culleyjc52 Sep 15, 2014 10:15 AM
    uniowner uniowner Sep 15, 2014 3:21 PM Flag

    I'll take it at this point! TPG has had going on 18 months and stock is trading near 2 year lows. If they cannot find a buyer for $7.50 they should start winding down operations and sell off piece by piece and the stock would be trading a lot higher than it is now.

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