maverick one
2 years ago
IMO- this is my pure speculation here, Highlander isn’t likely going to be restarted. I wouldn’t pay even .005 or anything for it. But I’ll let the others speculate and drop the cash on it- I’ll observe - but I’m not buying. I believe people are trying to day trader bud crazy as it sounds. Filling boards up with nonsense.
I’m investing into seriously better monthly dividends that I know won’t drop 65% face value for a micro quarterly div. one has to dump thousands just make a tiny amount back- now that it’s dried up on divs - imo - this could be worthless and difficult to dump. The over priced .04 crap was exactly that- crap. I saw it too. Now the crap baseline is .015 LOL? There’s suckers born every minute. If someone bought $500 at .04 slurping the kool aid and got 12,500 shares then bam blink of an eye it’s LOL .008 or .013, you can’t sell it and stuck with a huge loss of $337.50 at .013...now take $3000 get 75,000 shares and at .013 the loss would be $2,025 at .013.
LOL no thanks. Wait til the Jim Jones kool aid wears off on new suckers at alleged LOL new floor of .0175....bottom falls out.
It’s not going to be me or my cash. By all means have at it at the .005 bc imo next floor will be .0001...good luck with that.
Where is the trust PR stating Highlander will be put online, that hasn’t occurred- likely may never.
LOL .0175 really? Trading at? Hmmm me thinks there’s some very desperate folks flipping this to unsuspecting novice investors who believe everything they read on boards. There’s zero income in the trust/ why would anyone pay anything for it? Show me Wells online and div paid- you have my attention other than that- it is what it is. A dead smelly fish baking in the sun.
I suspect this will end up in the boneyards as a delisted dead shell in grey markets LOL, but hey keep on buying Ernie!!! Get after it woohoo brother. Wish you the best.
Mav
maverick one
2 years ago
I carefully and patiently observed - the lack of consistent paid divs over years, was a major red flag for me - turns out my analysis was correct. I didn’t think it was stable enough to be able to pay like clockwork for many years every quarter.
It was tempting - the PPS- but I suspected as well the .03-.04 was way over priced. I was spot on correct. Crazy as that sounds - gut feeling as well.
Your def sitting well with free shares but a new investor looks at this differently. Why not instead plow $ into a monthly dividend that pays .10 either quarterly or monthly that trades from $3-6...make more money and it’s not going to do what this did- stop paying with snap of a finger. Leaving potential shareholders with a major 65- 75% loss, had they dropped in entry at .04? Plus no divs?
It had some potential - but the trust isn’t perpetual in nature, however, the lack of forthcoming information on what comes next in regards to this so called Highlander onshore well/ there’s zero guarantees this trust will do anything with that.
We don’t know if subin was doing all that dumping and many many others it’s a major red flag - if any filings come out in the future produce that knowledge then it’ll shine a light. But one thing is for sure/ lot of major holders of this likely did.
There’s likely quite a few newer investors from the last 1 year or so, found this, held it, and imo just lost their butts on this, and speculated and just lost a ton of investment money that gambled and stumbled onto this.
They were attracted to the low PPS and the divs were restarted- without looking at underlying factors. Pretty sad what occurred to those that invested and gambled. Because there’s no way those divs equal what they paid at a higher pps.
I don’t see this as a positive either with recent speculative trading range over .01 to .014-0.15 is even close to what’s it’s worth. Imo- this is sub Penny and we’re talking .005 likely imo. How did buying at .04 now being forced to sell hair over a Penny was a great deal for new shareholders?
Just my 2 cents. Mav.
maverick one
2 years ago
Over 30 million + shares were dumped when it dipped under a Penny, just this month. Then there were several single trading days after, that were numerous millions. That looks like panic selling - no way else to explain it. Massive dump on a massive level.
How do you know with 100% certainty the divs will be once again distributed and how do you know this Highlander will be started? What is Highlander, onshore or offshore?
Or is this from long time investing here and it’s 100% speculating that you think in your opinion it will? Like where’s the facts evidence, that points to a potential new investor, that what your saying is in fact ironclad, and will occur?
Thanks Ernie in advance appreciate your input.
ErnieBilco
2 years ago
June 30, 2016 . An impairment charge of $89.5 million ,representing the carrying value associated with the offshore England and onshore Tortuga subject interests, was recorded for the six-month periodended June 30, 2015 ( $83.4 million of which was recorded for the three-month period ended June 30, 2015 ). At that time McMoRan informed theTrustee that it did not plan to drill or conduct operational activities on these subject interests prior to their lease expiration dates