Well,
If Turtle's and Teuts sources are correct (which haven't been totally straightforward up until now), its as I suspected, we're being jerked around, apparently by two US hege funds. Hard to believe that for all their connections, Fung & Co are at the mercy of two (albeit very large)investors.
Great strategic planning for finance guys, huh. And giving away 49% of the pie plus 20% interest. Well, I believe this deal will end up getting done, because well, its very lucrative for the new investors. (investing $1 to get back $3+, even with a low settlement). Otherwise I would have already sold, and got what little is left of this investment.
And as for us shareholders, well, the only way we get some crumbs is if we get a nice arb award in the 600+ million range. And that is at the earliest 2-3 years away. At that range, whether we issue 1 biliion shares now, or complete the PP as proposed, there really is no difference.
The only wild card is whether or not chavez dies/ loses the election. If as teut said, that part of the debt deal is that the debtholders don't get any % ownership if we just get the property back as recourse. Then us shareholders will see some gains, but then we're back in Venezuela again, oh joy.
The market is pricing this stock accurately, its not happy with the deal, but it still thinks it'll get done.
And how about that TSX delisting. What impeccable timing, huh? Sometimes you gotta wonder about these things. I mean, we probably haven't met the listing requirements for how long, but I guess its important we get delisted at this critical time ;)
Funny Games.
FK.
