Well, Stevie. I don’t think that this is “the classical Penny-Hype-Retail-Trap”. Actually, I believe this is a valid business (NDOL was not!) that has problems to get the proper market valuation because of ”bad history” and pink sheets manipulations. IMO: What they are trying to do – to raise the share price closer to “deserved” value. They need financing, contracts, JVs, and want to use company’s shares as part of these deals. Some people compare this to Bema and other acquisitions. But all these deals (including SPRL penny buyout attempt a few years ago) included clear name of buyers and (sometimes later) the terms of the offer. AURC’s PRs are vague, like they intentionally designed to create a concern. I don’t think they will try to “exhaust the wildcard” in NDOL way. And if they do, what would be the market reaction? We all are smarter now… I sold my NDOL position when realized that the buyer is Russian private company (sold way too early). Russians don’t like to pay cash, especially to foreigners, especially for Russian assets.
AURC has to give us name, price, and BOD decision on Tuesday. If one of these 3 components is missing – it’s a bad sign. I don’t think we will see a closure this day. I expect something like: “SGDM; $1/sh offer; “we are re-negotiating the price”. Everything can happen with buyer like SGDM, but even they won’t pay cash (IMO).
Russian pinkies have a bad buyout record. Look at the recent example of GBDX, which is “in process” now:
“At the end of the day the suitor wants to exit from the public market. Global will cease to exist as a publicly traded company if the transaction proceeds as planned. When the company entered the public arena we did not realize the burden of the public sector. The potential suitor does not want the additional work necessary to maintain a public company nor in our estimation do they need to be in the capital markets. Consequently, all shares held by the public will ultimately have to be surrendered if the transaction can be consummated.”
Will AURC announce that the buyer is a private company?
Conclusion: I have no idea! :) And nobody does. We place our bets and take our chances. My current AURC position is “free shares”, and I am just watching from now. Don’t forget that shakerzzz gang is already in, so price swings could be very violent (in both directions).
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