Poly, this post of yours is bang on, IMHO. The BIG Boys were pissed at RN last year when they were hyped into the financing at the 3-5 dollar level. I remember Richard's enthusiasm and confidence that the next time they would do financing it would be at $10.++. Well things changed for everyone since then, for retail and the Big Boys, and not for the better. I do not necessarily mean to infer bad decisions on Noronts part, the overall economy also tanked. I really do think however Richard's over exuberance was great for retail but the institutions that are going to particpate in future financing, I don't think so. That's kind of how the average Joe feels going to Air Canada Centre with his kids to cheer the Leafs on only to be told to enjoy, because the next time you come to a game the tickets are going to be double the price.
Your words, bang on!
"The majority ownership is firmly in the hands of the 'big boys' who averaged down their costs and now are sitting back waiting for results required to sell out the company to a major.
There is no way those 'big boys' can unload the huge number of shares they have into the market and get what they need. They are working towards a sale and week to week or month to month market price is of little concern to them since they don't need to raise any more money."
For me just ride the train, the drills are turning and news in all shapes and forms is eventually going to take us to where the Big Boys want to be. JMHO
Thanks! Justduke