No idea how low it could go in the short term, thats why I'm at a 4% position and not a 10% position (Which is still my target position size, if the price is right) ;).
Having Greenslade go poses a number of problems with lending convenants currently in place -- So it won't be easy to do that. I expect he did know cost overruns were happening but probably was not sure of the magnitude of it -- Those kind of things can sneak up on you.
I'm not sure what he gains from hiding the truth from the proxy vote though, AFAIK the AGM is coming right around the corner... I just looked online and the AGM is set for June 21st! So not much time left before that at all.
I guess he simply hopes to have the needed funding in place before the AGM meeting to defuse the situation.
Mount Kellet cannot exceed the 20% position, so they cannot buy more...Thats correct.
-Fernando
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