I don't remember seeing anywhere in Spiders reports or Sedar that they are contemplating a RS. My recollection is that Snug floated the topic to see the reaction.Now whether or not he did that at the behest of NN only Snug and Neil know , but honestly I doubt it., and if anyone wants to know all you need to do is ask Snug I'm sure he'd respond.
JD I have been long on SPQ for a lot of years and I remember some conversations where associates and myself put forward the prospect of SPQ looking at a RS at 10-1. If memory serves me right you were pretty aggressive in your response ,on all boards, that it'd never happen. I believe your comment was that you were so close to Neil that he'd mention it and as he never had that it would never happen, they had milions in the bank and they didn't need it. Then Sedar released their M&A disussions and there it was a proposed 10-1 spilt. , the rest is history. Yes you said your mea culpas and all power to you for it.
Personally I am against a RS, however I am also a realist over 300mill shares out is huge, would they be in a better position at 30mill isn't the issue. Snug showed you what a chart shows whether it's 300mill or 30 mill the math is the same. Here's the crux of the issue will the stock have legs at 30mill, or will we see a short euphoria followed by a drop and then another PP at an even lower price or will it be a continued climb, and there's the dilemma for all long shareholders.
Having said all of that the topic is moot until we see the agenda for the AGM, until that time lets keep the dialogue clean and stay away from any personal attacks it serves no one well.
GLTA
Joe
