Hi Barry. Any possible settlement would be littered with clauses, disclaimers and environmental prerequisites.
I think you may not understand what this "settlement is about". Rock had properties called "Amber" in the interior of BC. Clark and Company (BC GOV) expropriated the property for "parkland". Rock is not trying to get the property back! They are trying to get compensation for the expropriation! It has nothing to do with disclaimers or environmental prerequisites! Th property was assessed by an independant geologist at $21,000,000. Rock was willing to settle for $15,000,000 assuming a "speedy settlement". That hasn't occurred. If the BC Gov. doesn't do something quickly I think Rock will up the claim to "full value+ delay costs + impact on company operations+ damage to shareholders and shareholder equity+.........
The Rock could not possibly expect any good news to come out of a corrupt manipulated bunch of "BSers".
As I said before. "NO problem"! I want BC Gov. to turn us down, because it will than go to court or arbitration! Both are in our favour (IMHO) rather than some PS of the BC Gov dinking around for the next few months.
Don't you think if there was to be a favourable settlement all the sleezy politicians would be gobbling up stock right now on the side.
I suppose you are right, that assumes of course, the "politican" would like to be investigated by the BCSC for insider info charges, and have his political career ruined! Secondly, if this dispute is settled in cash, then Rock will be using the cash to progress the Coiron property. If the settlement is huge, than they may even do a share buy back, to compensate shareholders for "hanging in"!
So why is the stock going down......
Well it may have something to do with the fact, that mineral stocks are "across the board" in the toilet! Asia Pacific Resources (APQ-TSE) has the largest undeveloped Potash discovery in the world. bar none! Its stock is sitting at a level that is at least a 60% discount to NAV. I own that stock as well, does it bother me that it is trading at a 60% discount to NAV..... no, it will come around. I am patient!
It is easy right now to bash junior minerals stocks, hell, I'm even bashing a few myself. None, of the juniors I owned in the past had more than one chance of moving considerably. All were dependant on drill results! rock has two chances to move, drill results and a lawsuit!!
Tom Kennedy is no slouch! He is a lawyer and is a member in good standing with the Bar of BC. The company has an ex-RCMP fraud investigator on the payroll. If T. Kennedy says he's got a real good shot at considerable compensation, i'll default to his knowledge of BC Law.
Chief I think we are screwed
welcome to the world of speculative investing, "ya place yur bets, ya takes yur chances"!! Ya can't wimp out, when things aren't going yur way!! Ya either pull out or hang in! I'm hangin, in fact I'm even buyin!! That could make me "dumber" or even "dumbest"......we will see!!!
I appreciate your contrarian view! Keep contributing Barry!!
All statements are my "view" of things, and may turn out to be worthless.....such is life!!
the Chief |
