Looks bad but understandable. Dundee have recently come to an...

Looks bad but understandable. Dundee have recently come to an agreement with the Bulgarian government regards permitting in return for higher government royalties and ownership after a 2 year standoff. This mine will be the Dundee flagship but it is refractory Cu-Au ore which needs some $200M plant built to process the stuff.

The last report I read Dundee needed some US$260M in the next year or 2 for it's Bulgarian and Serbian projects and obviously needed to liquidate it's investment portfolio as a matter of priority for funding. This is not the market to have a basket of passive (non-performing...lol) investments on the books while raising capital by issuing shares at depressed prices.

That said I am both dissapointed and encouraged by the sale price. 47c is less than they paid so after waiting 3-4 years it is a terrible outcome for them. Bet they never expect Boj to drags his arse like he has. I expected they would hold out for a better offer from EQI/LGL in the near future. The fact they haven't means they don't believe LGL is about to make a takeover offer any time soon or the thought never crossed their minds. The LGL-EQI tie-up means that a takeover offer would be some 6 months away IF at all so perhaps that uncertainty and timing was enough to just quit and move on.

Who bought the stock?? On the positive side someone thought 47c was worth putting their hand up for 12M shares, now illiquid and cray-potted away with the rest off us. A lot of money into a stock they will only get out IF it is taken over cause they will never move that on the market. So is money talks, and we know it does especially in the current liquidity crunch, then 47c looks like a bottom.

Blue skys ahead... pin your ears back all you bottom feeders! Just need to get rid of that 50c seller who is probably another major holder run out of patience..lol

goodluck