Thanks for your insights. From what I understand about private firms, it's very difficult to come up with a fair price to cash out existing shareholders. There would be a fair number of lawyers involved, and the the SEC and other state regulatory agencies scrutanize those deals very harshly.
So, there we are, trading on the Pinks. What they could do, however, is make an offer for some of those shares or just buy back some in the market place. That wouldn't cause any issues as it would be a tender, not a total cashing out, and would have the effect of increasing value for remaining shareholders.
I'm happy with any company that pays a decent dividend to its shareholders. I can live with that. The ones that don't give anything back to their shareholders I do have a problem with.
What I would like to know is how long of a life they figure the mine has? I don't know if another company would be interested in purchasing them or not, but who knows (I believe they were owned by Cheveron, and they do have info on americangilsonite.com, though I don't think they've updated the site for a long time).
Then comes the issue of getting value for shareholders. What I would propose that they do is list their financials once audited and post them. There is no reason they can't do that, and it would keep shareholders informed. Other profitable companies in this same postion (BONL and LKSC) either post it on their website, or if you go to the financials tab on pinksheets.com, you can find them there.
LKSC has earnings of almost 7 cents a share and you can buy it for 20 cents. Go figure. The problem is that no one knows about them. So, unless they decide to sell the company or relist, it's difficult to get noticed. However, if you are like me and can think in terms of years, they could give exceptional returns when either one happens.
Thanks for pointing out that other company. I'll take a look at it. So many opportunities.
Be patient and collect some dividends and if the opportunity presents itself, I may join you in buying more. What's not to like?
