bmc.v - sells Lanfranchi interest to pan.ax ... wondering whether to reload any more Brilliant, the following is back-of-envelope roughing-out -
bmc - 73m shs out times 0.14 = cad10.2m market cap [wts/opts irrelevant as way o.t.m.]
pan.ax - 12m shs consideration times cad0.65/sh = cad7.8m
plus cad6m cash = cad13.8m
plus 3m pan.ax wts, value nebulous, t.b.d.
forgot how much cash bmc has in hand, not much in any case
Transaction won't close till may, then a six-month hold on pan.ax shs/wts ... much depends on what Brilliant does with the 6m cash, and on the price of nickel ... so hmm, looks like plenty of room for a spec cycle on bmc, but i don't see urgency in it at the moment, likely will bid a few, but mainly back to alternating moods between gold/oil and oil/gold
Those Hxx.to things have interesting daily patterns according to how their underlying goes, but seem to require constant attention, you wouldn't want to ignore them going into end of day ... better a basket of flakey little juniors that stand good chances of making it eventually, imho, because then you're not chained to the computer |
