It is not about long-time longs. They made their bed. It is more about info for newbies.
Conspiracy theories are no longer theories. Tenor is now joined at the hip to Crystallex in a nice end-around of the CCAA process. When Tenor took 35% of the arbitration proceeds, there was nothing here anywhere near the outrage as the current proposal of Bondies wanting 15%. In fact, along with the current outrage of the Bondies 15%, there was more outrage over the management 5%, than Tenor's 35%. Last I checked, 35% was a lot more than 15%, and way way more than 5%. But, what is done is done.
Commons will get something. I do not think I noted anywhere in recent posts that commons would not get any of the arbitration. It certainly is no secret that I am not Bullish on Crystallex. I am more of a "Market hates uncertainty" type, and when I see a 15% give-away it no-doubt does hurt. But also, thinking it may not be so bad as compared to another unknown give-away to Tenor considering recent history. The ol', "bird in the hand," thing. It's just business. Without the emotion.
FinKid has some well done numbers on a minimum. Although there appears to be one very large assumption. That is, when the arbitration award proceeds are collected, Crystallex will scuttle itself or distribute a special dividend. I see no indication that Crystallex will do any such thing, yet it is a possibility. My thought is that the more likely possibility is that once an award is determined and collected, SP moves up - typically about 90% of whatever calculation, and at that point shareholders can try to cash out.
My original post was my thoughts. Agree or disagree is what this board is all about. Despite rumors to the contrary, I am not much of a football fan and am not big on drinking.
Hope everyone's weekend was enjoyable.
