AMBCFTravis would you still buy AMBCF ? Do you know the time frame on the lawsuit that is pending?
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I’d certainly be interested in anyones thoughts on AMBCF.
I brought at about 7 cents per share right before they lost there legal case and lost their mine. However they got 15 cents a share in cash as part of their settlement so I was prepared to stay for awhile. Their very first acquisition was a convoluted affair involving offshore corporations, selling a mine and taking a 37% position in the company that now owns 100 percent of the mine and investing $615,000 in the company to develop the mine. Since that time they have increased their royalty agreements from 11 to 55. I am not sure if any of this is good or bad but I am sure that I don’t understand much of what they have done. I sold my small position for a small profit around 7.7 cents per share. I think it is near a bottom, but cannot think of a single reason to buy it at this time. This is not advice, just my experience and position. Have fun, They have been cranking out press releases so their is a ton of information available. Read it and if you can find a reason to buy pass it along. They are still on my watch list.
AMBCF is now going to re-invent themselves as a re-insurance company. Through a convoluted set of affairs, they will become a company called RH (Resource Holdings) which will still be a somewhat streaming company, along with primary business of re-insurance. I threw 2k at them a while back, and guess I could sell at appx .015 higher than paid and get out, I am thinking of riding the wave either out of morbid curiosity or a ‘who knows’, sort of scenario. I’m still reading the prospectus, but must say, as of now, it is simply a ride along and hope, or cash out. All the reading in the world will not really tell me much at these levels. I am curious whether I am alone on Gumshoe, or do we have a couple others following along?