P.M. Lndmrk, Boilermkr, all
Thinking out loud.
From the Carlyle group "US Buyout" (Canada not on list)
The Carlyle U.S. Buyout team engages in buyouts, privatizations and strategic minority investments in partnership with experienced management teams throughout the United States and Canada.
TechMet, "Who we are":
"TechMet is a private industrial company that is building controlling or significant minority positions in world-class projects across the technology metal supply chain."
My concern, and I know that I am the first to mention this, is that some group or a consortium of groups obtains a majority position which will allow them to dictate terms of a merger or buyout or privatization which is not necessarily in the interest of long term shareholders and would also result in control of the selection of the Board and ultimately, the CEO. (Not a nice thought!)
(Total Niocorp shares; 273,320,925.
50% ownership = 136,660,462 shares @ current .45 USD:
It would only cost $61,497,208.125 to buy a controlling number of shares in a company sitting on undeveloped resources worth what? Billions? (If management shares uniformly voted to support a merger or buyout it would only be 43%, or about $52,887,598
Per Fidelity's NICORP info total insider shares = 8.7% which includes M.S. shares = 18,885,445. Total institutional shares = 0%, 91% other (All of us us out here in buy and long term-hold land.) There are no institutional shareholders. (Would not rely on Fidelity's reporting being entirely up-to-date.)
The good news is that no one in management is selling within the last 2 years, and that most of us here are apparently resisting the urge to sell, at least before possible financing.
So, unless the S.P. goes up considerably and some group scoops up a large number of shares between now and 11/7/19, the current 2019 concern would probably be Financing on terms unfavorable to current shareholders. (Dilution and lower share price--we will probably have to accept this at some level.)
The more concerning Hostile takeover issue would be more likely to occur after financing and start of construction and before any of the 2020, 2021, 2022 year annual meetings.
Question; Does anyone know if Niocorp has a hostile takeover poison pill strategy that protects shareholders as well as managment? Am I being reasonably concerned?
(Enuf said...off to face the day!)
