SafetyinNumbers

Yeah maybe. I don't know anything about Malaysian equity markets. I would assume $30bn market caps makes it one of the biggest companies there so maybe some big fish small pond effect.

Thanks bskptkl. It's interesting how much press Genting is getting on this. They are a much bigger company with a bigger stake but its much more relevant to DC because of the relative size of the stake to market cap. http://www.theedgemarkets.com/my/article/all-eyes-gentings-taurx-wager

I decided to get exposure to this TauRx catalyst on July 27 by buying the August 9 calls. I'm not much of an option buyer as usually I have no idea when the market will begin to appreciate the value that I see. However, with this being a potentially giant under the radar catalyst, I figured the downside in the equity on a negative result might be bigger than the premium paid. I continue to own the Class D prefs as well. Anyone else involved?

Do you have a source for this information because I don't believe it's true nor can I find any evidence to support it. Say what you want about how high taxes are in Canada but the rules ar usually quite logical. Also, contributions and withdrawals from your TFSA are not recorded anywhere on a Canadian tax return. If you have evidence of this as well, please provide it.

I don't think so. I'm sure they will highlight the NAV north of $15 and of course they have a decent amount of gold and oil investments which have rallied in the past few months and weren't really reflected in the stock price. I have also heard that TauRX will put out its phase III results on July 27 in Toronto during the Alzheimer's conference being held that week. If you missed it or are taking profits on DC.A you might want to buy the preferred, DC.PR.D instead. Big yield and a chance for credit spread to decline as NAV discount closes.

Good size move today, up 12.5%, ahead of the AGM on Monday afternoon. Is anyone attending?

The bank has zero risk here don't they? They would have to get mortgage insurance so either MIC or CMHC would be on the hook.

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!