After the bridge loan gets closed off I am hoping that Century would sacrifice $2.025M of those funds to place a 15,000,000 share BID on the BUY side (at .135). Then sit back and see what Wega does. If Wega does nothing then keep moving the block up 1 penny per day, until it reaches say around $.155 (not too much higher as I want Wega's losses to be as high as possible, plus I don't want the $.135 flippers, that recently bought, to erode the bid block). This will at least ensure there is a bottom of $.155, which will stabilize the situation. It will also provide a much needed morale lift for panicing shareholders. It would reduce the non-Wega sales.
If Wega still wants to sell then they can sell into the giant block, and eliminate most of their share position at a major loss.
Let's hope that Century can close off the Fortis deal earlier than expected. At these share prices, all Century will need is an additional couple of million from the $70M Fortis LT Debt and the Wega o/s shares will be wiped out completely.
Better yet, why wait. Century should go after another small bridge loan, then use that money to eliminate Wega. You know, even bullies can only bully for so long, before help arrives.
5 comments:
So if Wega is essentially bought out (or their bluff called) what's to stop another major holder from selling? It would be the same thing all over again.
This stock has been an extremely expensive lesson for me: Markets are not "free", stocks are heavily manipulated, nothing a company says can be trusted, and I will never invest in an individual stock again, small or large. There is just too much going against retail investors.
There's no point in selling my remaining shares now. There are no capital gains in the cards to apply losses, unless the home is sold. In which case capital gains are exempt anyway.
I expect to wait for five years now and hope that there will either be a takeover (preferable) or that it will be squashed like a bug and put out of its misery.
Excellent suggestion, Production05. I hope you sent it to PK.
If all Wega wanted weere changes in management, they could have achieved that by their votes at the AGM. They did not have to destroy us little guys in the process.
Besides Wega is also responsible to their own shareholders. How did they become a major company with bullying tactics like this? Or do they suffer from some sort of 'Viking vengence'?
Send your comments to Mr. Hans-Arne Lorange, WEGA Mining at:
hal@wegamining.com
Don't waste time asking him what WEGA is doing? He will only tell you that it is not WEGA's policy to discuss their investment strategies.
On the other hand, please inform him about the emotional, physical, mental and financial stresses that WEGA's questionable actions have had on you.
WEGA has probably calculated, quite correctly, that by driving the share price down, that individual shareholders would feel major pain and start contacting the CMM board demanding that PK be fired. Who better to do the dirty work while the North American markets are open and they sleep peacefully tucked into their beds.
PK is a bag, but WEGA showed no concerns for fellow CMM investors and shareholders. If they wanted out, they could have asked PK to arrange a buyer. They didn't, they wanted more equity.
Life isn't fair, and grunt shareholders exist to be used and abused by the PK's and Hans-Arne Loranges of the world.
The only question each of us has to ask is:
Are we going to let them keep F%$^King with us?
Hi bigjohn37,
Thanks for the comments.
I sent the suggestion to both Margaret Kent and Brent Jones.
Take care,
Production05
Natik, you said:
"On the other hand, please inform him about the emotional, physical, mental and financial stresses that WEGA's questionable actions have had on you."
I respectfully submit that these guys , as you also said, calculated that just this would happen. Nevertheless, their bottom line is all that matters to them. They clearly knew that Mom and Pop would be suffering as they watch their hard-earned money dwindle to nothing. Mission accomplished!
With all the business acumen they are supposed to possess, they couldn't deal with PK in a forceful and direct manner. Guess that speaks volumes for PK!! So they had to do it to us and through us.
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