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Weekend reading

October 12, 2012 Leave a comment Go to comments

Notes from Pabrai’s presentation: Great stuff on the basic skills needed to be a great investor

Graham and Doddsville Newletter: Latest edition

Categories: Reading
  1. bob
    October 13, 2012 at 6:53 am

    just reading the terms of the whitebox capital raise, it seems pretty disadvantageous to yukon. i kind of wonder if even if production ramps up, all the financing to come will eventually create an overhang on the share price. that said, i am glad, sprott, deutsche, whitebox see upside in the company, but i never imagined financing terms could be this rough.

    • paras
      October 13, 2012 at 11:14 pm

      agreed. YNG equity raise is not good. When it was initially written up on SumZero, the EV was around 136M and stock price around 26 cents. after 3 yrs and all the dilution, the EV is around 300M and stock price around 30 cents (if you include the gold forwards in the EV than it is much higher EV). so EV has almost been a 2.5 – 3x but investors have had only a 20% return.

  2. bob
    October 14, 2012 at 3:13 pm

    out of curiosity, have you seen the new symbol show up in your brokerage account- have yet to see the symbol change/reverse split to yngfd from yngff in my account yet even though yahoo finance says yngfd trading at $3.21.

    • paras
      October 14, 2012 at 11:57 pm

      i haven’t seen the new shares in my account. they should be there soon.

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