Jaguar Mining's Production Update Is Not Encouraging [View article]
If the financing was announced after the article was published (which means it was written 4-5 hours before that), how could it possibly be mentioned in the article?
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
A good question was presented to me, of which I think the answer can benefit anyone with a stake in the company. The question asked about the creation of value, now that the BC portfolio is sold:
As for value (keep in mind these are rough estimates): 10% of Cloosh Valley (105MW) in JV with a major player in the business $11M upon shareholder approval (2013-Q2/Q3) + $9.2M from SSE (2013-Q3/Q4) = $20.2M in 2013 $20M (out of the remaining $29M due from Pattern in 2014, per the answer to the direct question in the conference call) = $20.0M in 2014 $9M from remaining projects in the future. Market cap is around $10M. I think the case for inherent value is strong. Let me just higlight one point that came across in the conference call, which I think is important. When asked on the proper model of the company (private/public), Jason (the CEO) clearly stated that he believes that the company should be private as it was in the early 2000's. He also stated that he thinks that the several shareholders who hold the majority of the shares should buy out the retail shareholders. Make of his answer whatever you wish, but one of those shareholders is a billionaire Irishman (cloosh valley). If the market does not recognize the value inherent in the company, the likelihood of these shareholders taking the retail holders out, grows and grows.
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
This morning's Finavera conference call illustrates value going forward. Unfortunately the company cornered itself with debt payable to GE (we all know who's fault that is), which inhibited the auction process in the time available to let other potential bidders conduct the necessary due diligence. Voting against (if even possible, since the company is majority owned by several shareholders) the deal leaves current shareholders in danger of excessive dilution and is therefore not a viable path. Voting FOR the transaction seems to be the only way to generate the value inherent in the company.
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
Fellow shareholders,
I have spoken to the company's CEO last night and discussed a variety of issues ranging from the importance of information and transparency to the necessity of a conference call. Clearly, not announcing a conference call in the news release was a misstep, but let us not dwell on the past and look to the future.
The upcoming conference call will CLEARLY illustrates the alignment of management and the board with shareholders. It will also illustrate Pattern's expertise in developing wind farm facilities and ability to access capital. This is important since future cash payments depend on, partially, on Pattern Energy.
If you have any questions, or need further clarifications I strongly urge you to email the company and request to speak with Mr. Bak, Finavera's chief executive and founder. He will answer your questions as long as it does not entail insider information.
I look forward to the conference call and your constructive feedback.
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
On a more encouraging note:
The CEO and I have been in contact through email and are scheduled to talk over the phone.
I will push for the following: 1. a conference call (ASAP) with a Q&A session 2. the dates in which the company will recieve the remaining $29M 3. the disclosure of the number and substance of other offers. 4. THE RETURN OF CAPITAL TO SHAREHOLDERS!
I will update every shareholder immediately after the call and as a UNITED GROUP, we can take it forward from there.
As of now, our little company is trading at a market cap of about $8M or $0.23/share when the assets were sold for $40M or $1.07/share. Our concerns and objections are indeed justified.
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
New Total: 1,271,200 shares/votes AGAINST
Addressing your concerns: 1. You will be able to vote against the deal no matter where you are in the world. Its early days and I hope we won't have to waste precious cash on a useless vote. 2. I will provide you with detailed instructions on how to vote your proxy. 3. I believe most of us are Canadian, including yours truly. If your not, that's absolutely does not matter. You own a share, you get to vote!
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
The $40M should go to shareholders, period. Not management. If investors wish to invest in the sector, they can do so with the proceeds. There were 4+ offers on the table, and at least one was a full on takeover. We have the right to choose.
Jaguar Mining's Production Update Is Not Encouraging [View article]
Jaguar Mining's Production Update Is Not Encouraging [View article]
General Dynamics Fairly Valued: No Value At These Prices [View article]
Majesco Guidance Spells Trouble [View article]
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
As for value (keep in mind these are rough estimates):
10% of Cloosh Valley (105MW) in JV with a major player in the business
$11M upon shareholder approval (2013-Q2/Q3) + $9.2M from SSE (2013-Q3/Q4) = $20.2M in 2013
$20M (out of the remaining $29M due from Pattern in 2014, per the answer to the direct question in the conference call) = $20.0M in 2014
$9M from remaining projects in the future.
Market cap is around $10M. I think the case for inherent value is strong.
Let me just higlight one point that came across in the conference call, which I think is important.
When asked on the proper model of the company (private/public), Jason (the CEO) clearly stated that he believes that the company should be private as it was in the early 2000's. He also stated that he thinks that the several shareholders who hold the majority of the shares should buy out the retail shareholders.
Make of his answer whatever you wish, but one of those shareholders is a billionaire Irishman (cloosh valley).
If the market does not recognize the value inherent in the company, the likelihood of these shareholders taking the retail holders out, grows and grows.
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
Unfortunately the company cornered itself with debt payable to GE (we all know who's fault that is), which inhibited the auction process in the time available to let other potential bidders conduct the necessary due diligence. Voting against (if even possible, since the company is majority owned by several shareholders) the deal leaves current shareholders in danger of excessive dilution and is therefore not a viable path. Voting FOR the transaction seems to be the only way to generate the value inherent in the company.
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
New Total: 1,289,200
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
http://bit.ly/12LeXqa
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
I have spoken to the company's CEO last night and discussed a variety of issues ranging from the importance of information and transparency to the necessity of a conference call. Clearly, not announcing a conference call in the news release was a misstep, but let us not dwell on the past and look to the future.
The upcoming conference call will CLEARLY illustrates the alignment of management and the board with shareholders. It will also illustrate Pattern's expertise in developing wind farm facilities and ability to access capital. This is important since future cash payments depend on, partially, on Pattern Energy.
If you have any questions, or need further clarifications I strongly urge you to email the company and request to speak with Mr. Bak, Finavera's chief executive and founder. He will answer your questions as long as it does not entail insider information.
I look forward to the conference call and your constructive feedback.
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
The CEO and I have been in contact through email and are scheduled to talk over the phone.
I will push for the following:
1. a conference call (ASAP) with a Q&A session
2. the dates in which the company will recieve the remaining $29M
3. the disclosure of the number and substance of other offers.
4. THE RETURN OF CAPITAL TO SHAREHOLDERS!
I will update every shareholder immediately after the call and as a UNITED GROUP, we can take it forward from there.
As of now, our little company is trading at a market cap of about $8M or $0.23/share when the assets were sold for $40M or $1.07/share. Our concerns and objections are indeed justified.
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
Addressing your concerns:
1. You will be able to vote against the deal no matter where you are in the world. Its early days and I hope we won't have to waste precious cash on a useless vote.
2. I will provide you with detailed instructions on how to vote your proxy.
3. I believe most of us are Canadian, including yours truly. If your not, that's absolutely does not matter. You own a share, you get to vote!
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
Not management. If investors wish to invest in the sector, they can do so with the proceeds.
There were 4+ offers on the table, and at least one was a full on takeover. We have the right to choose.
An Open Letter To Finavera Energy Shareholders, Management And The Board [View instapost]
As shareholders we have the absolute right to vote on the 4 plus offers that range from a full takeover to a partnership.
Don't despair, Don't give up!