SafetyinNumbers

I agree on the yields and think the Canaccord pref are in the same boat and their balance sheet is mostly cash that exceeds the preferred outstanding at par! I'm sure you know this sculpin but for the benefit of the thread, I believe the DC.PR.D are better than the DC.PR.B if your holding period is to the reset date of September 2019 (or longer) as the issues are interconvertible at every reset date. If you factor in the capital gains on the D's (all else being equal) you get an overall return that exceeds the B's by a couple percent and its a little more tax efficient.

Thanks for posting my SA comment Sculpin. I didn't know this thread existed until just now. I own way more of the preferred (DC.PR.D) than the common as I too think it's a safer way to play Dundee in general but the catalyst is pretty compelling so I added some common since January. I think that if this catalyst comes through we'll see some sort of tender offer for the preferred with the additional liquidity. I had a chance to chat with the CEO in January and came away thinking if the management team had its way they would prefer not to have the preferred or any debt left at the holding company. Obviously, this was my view so maybe he was just agreeing with me to make me go away!