bskptkl

Squeek, squeek...

BKNG starter position... GOOGL added to last weeks starter position AXP add

Had a few pints at the local followed up with wine with dinner with my lovely wife - wonderful dinner pork chops etc. Life is good - wtf is going in on these markets? Hmm.... I d'know,but: BWEL finally trades below book value CMCT is about half NAV Isn't HST about half NAV now? Why buy bonds < 1% - give money to Warren and his billions at 1.2x book AXP at 12 PE GOOG at 26 PE sounds ok I have committed capital already and I am steeling myself to continue...

I followed you into WEIN...thx for alert. Also CMCT, AXP, BWEL

I have seen/owned several multi-baggers in distressed equity, low price, low market cap names. SIGA - traded $0.25 in 2015 while in bankruptcy (I bought 10k 12/24/15 - I think I low ticked it, but I was severely underwater at the time). Trades $5 now, peaked at $8 in 2018. Still a large position. PRXIQ - traded $0.20 6/15/16 day after filing Chapter 11. Traded as high as $8 within a year. I managed to buy at $0.20 and sell at $8, and yet still lost money on the total position! I blame the equity committee. MYH.UN - buy $0.10 to $0.12 late 2014, MHY.UN paid $0.70 distribution in 2 parts in 2015, stub still trading $0.15 (shout out to Sculpin for idea) SEMIQ - purchased between 2007-2009 average cost of $0.12, before delisting completely, paid $5.68 litigation payout in 2016. Still out there suing other capacitor companies. Thanks to Alex Shaw for this one. I'll try to think of more. Shared characteristics - low entry price in real terms - I mean pennies, catalyst is mandated by bk court or liquidation plan, and forced selling. Buying bankrupt equity is kind of like buying long dated options, sometimes with years and years of life. The lower the share price, the lower the premium decay. I have many misses and donuts for the few big hits of course.

Dundee already buying their prefs under NCIB. But NCIB/SIB for its shares would be more accretive. From last Q: During the nine months ended September 30, 2019, the Corporation purchased 61,000 Preference Shares, Series 2, having an aggregate stated capital value of $1,525,000, for cancellation pursuant to these arrangements. The Corporation paid $891,000 to retire these shares. The excess of the value of stated capital over the purchase price, which totalled $583,000, was recorded as an increase in retained earnings. During the nine months ended September 30, 2019, the Corporation purchased 3,800 Preference Shares, Series 3, having an aggregate stated capital value of $95,000, for cancellation pursuant to these arrangements. The Corporation paid $56,000 to retire these shares. The excess of the value of stated capital over the purchase price, which totalled $39,000, was recorded as an increase in retained earnings.

MFCB Finally! I have owned this dog for 3 long ugly years. Avg price >$10. Had too much, so couldn't stomach averaging down when it was in the $4s six months ago. Held off selling until opening today (luck, was trying yesterday - just didn't get filled), and scale sold all the way up. You know that feeling when you don't care if buyers make money from here? I don't care that I am selling at <60% of "book" value. Good riddance MFCB and Michael Smith. This company reminds me a bit of the Dumbdees - "good" resource related Canadian investor goes bad; no really, really bad. Epic destroyer of capital, hubris, etc. I suppose there should be a lesson in this for me. I don't mind investigating these train wrecks. I love the volatility. They do have potential for multi-bagger gains from the lows. I've done better in Dumbdee - maybe because I started with the preferreds, started smaller and traded around the position several times.

466 shares of ELAN... :)

I own both preferreds and common - so take this the right way. Can someone remind me of the last smart thing these guys have done? I know Ned has done some smart things going way back. I'm talking about the last few years.

LLY, not too much though.

Best part is you can get exposure to Cline for "free" or even a credit by buying MAR (last $0.52) provided MAR restructuring goes through as planned. Makes the multi-bagger potential "mind boggling". 8)

Count up holdings of this board - see if > 10%, then it may be actionable. I have 17k shares. Who are other big holders? I led successful proxy fight back in old days (2009) - it can be done, not easy, but...I have a roadmap. We had more like 20%. Of course Cardboard - you have to be willing to be CEO!

How do you calculate hard NAV? Is this non-cline NAV? I don't really get where they are getting the $0.53 in cash from. Is this coming from the private placement. If it is what do the private placement investors get out of it? Did they sell all the non-Cline assets to someone? I feel like I'm missing something. They update NAV on their website - here's what it says today: NAVPU (April 19, 2018): $0.893 In their last MDA they attribute $0.449 to Cline value. I presume the buyers will finance the 53 cent cash out. No telling how many elect to cash out.

An efficient way for MAR to distribute interest in Cline (presuming they cannot just sell it - if they could why not do that already?) would be to do a deal with MHY.UN accepting MHY shares in exchange for Cline interest and then distributing the MHY shares to MAR shareholders. If this transpires, MAR shareholders who already own MHY might want to front run the trade and bash MHY. Ok, ok, not bloody likely I admit. Why go to all the trouble/illegality for peanuts...It's just that there was heavy selling out of the blue a couple days before the announcement. Whatever the case may be, once again we are provided a "free option" on met coal in the form of buying MAR stock prior to the deal for 53 cents or below.

https://web.tmxmoney.com/article.php?newsid=6874281951184801&qm_symbol=MAR Marret to distribute Cline to shareholders and to allow shareholders to elect $0.53 in cash (8 cents or $1.4 million more than hard NAV) - vote to occur in June. Those are great terms negotiated by management. Consider me impressed. I bet news leakage explains the sharp sell off in MHY.UN last week - went from $0.15 to $0.085.

Yes at IB - I'm out now, not as patient as Sharad. Thanks again!

This was an excellent call - thanks for pointing it out!

Which is essentially paying $18,800/year for 5 years (or about 100k) for your Canadian citizenship. For US healthcare, it's crazy expensive if you're not on an employer-sponsored plan. It's absolutely ridiculous. If I was retired or whatnot, and not wealthy, I would not be living here. I always ask, who is getting rich from all this? Is it the doctors? I don't think so. The government? Doubtful. Insurance/Pharma? Now we're getting warm... I have my own plan this year. To keep things updated, for a family of six in the US: $960/mo for coverage, with a $3800 deductible and $14k total out of pocket. I think there's a 20% co-insurance or so. This isn't terrible at all. When I was able to buy through a group it was $200 a month, plus a $5k deductible and the company paid $1000 a month on my behalf. I was able to find something better on my own. But all of that said. If you're tapping out on health care that $18k a year is cheap. Also worth noting. I've since done some research into this. The investor visa is ONLY available in Quebec. Canada suspended it, but Quebec still has it. For $1.2m USD you can become Canadian and live in Quebec. Worth considering at least... Would you mind sharing name of insurance company? My plan is way more expensive than that here in California. tia

I've bought MAR back around $0.39 and trimmed MHY.UN at $0.17 just for something to do. MAR has 45 cents of non Cline NAV and 45 cents of Cline NAV. MHY has 72 cents of Cline NAV. MAR has traded up to 50-55 twice in last months, so hoping it can do it again. In re-reading this thread, I noticed a lot of good picks; CVEO and MHY tripled, BHP, TECK, ARCH all had nice gains. All with coal prices ending lower (with a lot of volatility though): TECK averaged $207 per tonne for coking coal in 4th Q 2016 vs. $170 for 4th Q 2017.

Objection to Goldman "stealing" half the equity filed by ad hoc equity committee yesterday that lays out a bull case (of course). RELYQ responds by rallying 80% today. RELYQ_objection_252.pdf

I got smoked in CBRI too. I doubled down at .006 and blew it out the last few days (averaged .022 on sales) to cut my loss in half - still lost a bunch though on initial position of 9 cent stock. I will reload if it gets back down to .005. I feel this will trade speculatively for years as they wind up the estate.

Some RELYQ. I'm speculating shell w $900 million NOL is worth more than $8 million market cap and have a sale of business for more than $600 million (admittedly not very likely) as upside.

you cant make this stuff up...from $2 to $7 on this news: https://www.cnbc.com/2017/12/21/long-island-iced-tea-micro-cap-adds-blockchain-to-name-and-stock-soars.html

Have you seen KASH on Venture. KASH is $3.75 bid pre opening. I believe they’ve raised $1.2m at 0.15, the rest of the 41 million shares at .05. Now they raised money at $2.10 per unit. Insane! Hashchain arranges $26-million bought deal offering 2017-12-19 16:35 ET - News Release Mr. Patrick Gray reports HASHCHAIN TECHNOLOGY ANNOUNCES $26 MILLION BOUGHT DEAL PRIVATE PLACEMENT OF UNITS Hashchain Technology Inc. has entered into a letter of engagement with Eight Capital as co-lead underwriter and sole bookrunner on behalf of a syndicate of underwriters, under which the underwriters have agreed to purchase approximately 12,381,000 units of the company, on a bought deal private placement basis, subject to all required regulatory approvals, at a price per unit of $2.10, for total gross proceeds of approximately $26-million. Each Unit shall consist of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $2.45 for a period of 24 months following the Closing Date. In the event that, after the date that is four months and one day following the closing of the Offering, the closing sale price of the Company's shares on the TSX Venture Exchange is greater than $4.00 per share for a period of 10 consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. The Company has granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Units of the Offering at the Offering Price, exercisable in whole or in part, at any time on or prior to 48 hours prior to the closing of the Offering. If this option is exercised in full, an additional approximately $3,900,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately $29,900,000. The Company intends to use the net proceeds of the Offering for further mining rig purchases, working capital and for general corporate purposes. The closing date of the Offering is scheduled to be on or about January 4, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities. About Hashchain Technology Inc. Hashchain is the first publicly-traded (TSX VENTURE) cryptocurrency mining company to file a final prospectus in Canada, supporting highly scalable and flexible operations across all major cryptocurrencies. Hashchain taps low-cost Canadian power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive position for maximizing the number of mining 'wins.' Hashchain is based in Vancouver, British Columbia. We seek Safe Harbor. © 2017 Canjex Publishing Ltd. All rights reserved.

Trades for roughly cash value - about $2.50 per share. Has a $25 mm suit (about $2 per share) against GM that goes to trial in February. Decent stewards of capital over the past few years as they have run off their business. The hope is not only they win, but they do something intelligent with the shell. "Mr. Parsa Kiai is Director of the Company. Mr. Kiai resides in New York, USA and is the Managing Partner and Portfolio Manager of Steamboat Capital, LLC ("Steamboat"). Automodular was approached earlier this year (2013) by Mr. Kiai and Bo Shan of California, USA, Founder and Portfolio Manager of Gobi Capital, LLC ("Gobi")."