posted on
Apr 09, 2012 06:49PM
3 month low average for lowered offer? Before Oil Can NR? Even if this were true, and they rushed an offer, they'd be mid offer when Oil Can doubles Fermont ore at the end of the month -which would increase our expectations
of an offer. Management thinks we could easily fetch $5. A poll of many shareholders expect $3.50. I think institutions want to hold for $.85 - $1.50.
I'm hoping the lack of volume is tax-related, the lack of demand is due to lack of hard data, and the couple hundred thou traded here and there are a result of Smith talking to houses.
If we were cross trading in the millions between here and .40c, I'd fear CHM was helping their cause for an offer. But would this make sense: does the poison pill place all property decisions at the disposal of Smith without voter input? So would having a favorable voting percentage of shares make a difference?
-SG