NorteCapital

https://www.vancourier.com/mty-food-group-buying-papa-murphy-s-holdings-in-deal-valued-at-253-2-million-1.23788226

Results in line with what I was expected. They delayed El Carmen one quarter but does not seem significant + Not much capex this year in San Jacinto. Looks cheap imo.

http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2019/Gran-Colombia-Gold-Ready-to-Invest-in-Venezuela/default.aspx +8% right now..

Cardboard, I've spent less than 1hr so I may be wrong but I do not see how MTV is a low cost mine. Their guidance says cash costs will be 2.2-2.5$ per lb for 2019. What can we expect for 2020-2022? Is it going to decrease dramatically?

The problem here is capital allocation. I wonder why they increase the dividend and not talk about debt repayment in their press releases lately. Execution seems fine so far.

Hi Seth, Thank you for your insights. I wanted to know why you did not ask the management in the Q3 Call about the intercompany loan that BBU took from TK.

The company looks interesting. However: Q3 Transcript - 15 March "Let me reiterate today that we have no plans to raise additional equity this calendar year and should we decided to increase our cash position later this year, we would first look to increase our existing $10 million credit facility before we would consider equity." CEO Michael Mathews Raise new equity - 18 April " Aspen Group, Inc. (Nasdaq:ASPU), a post-secondary education company, today announced that it intends to offer shares of its common stock in an underwritten public offering." For me, this is enough to stop analyzing it. After the raise, they cancelled the credit facility that one month before they were looking to increase.

I don't understand your dividend comment. It's at the same rate it was before. Would you prefer they cancelled it? The debt is already being amortized according to a predetermined schedule and is secured by the Nicaragua assets. I don't think it makes sense to pay down that debt more aggressively as its ring fenced by the project. If they could find a way to restructure the debt to add even more debt and pull equity out, I think that would be a worthwhile endeavour. That's what I meant sorry. I could understand the dividend before the UEG acquisition given that there were no capital needs in the short and medium term. Probably my approach is too simple. But I do not like to pay taxes (associated to the dividend) and neither I like the firm to pay extra financing costs.

Good results presented by PIF today (as expected). http://polarisinfrastructure.com/wp-content/uploads/2018/11/2018-Q3-Press-Release-2018-11-06.pdf Don't like the dividend tho. I would prefer that they keep the cash for UEG developments or pay down debt.

Acquisition by Polaris in Peru. https://www.newswire.ca/news-releases/polaris-infrastructure-acquires-union-energy-group-corp-699097351.html Issuing shares at this price does not look like the best idea at first but the acquisition seems compelling. Geographic and asset diversification.

Finally lifted that seller. That was a month overhang so maybe some selling sold in front of the block and we can lift higher here. So accurate. I never look at TA but will try to identify these kind of situations in the future in iliquid stocks.

Makes sense. Thanks for the info.

Are they really restructuring the company? SG&A went from 4.9m in 2016 to 3.75m YTD. Salaries went from around 7.2-7.5 (2016&2017) to 10m probably in 2018. + more debt - interest burden. How good a change in the management would be for shareholders.. According to their profile in Linkedin, they have just opened 5 new positions this week so salaries will get even higher ::) ::). Kidding.

Do we know if Cardboard was right and insiders sold? Have they disclosed anything?

http://www.arkansasonline.com/news/2018/jul/24/news-in-brief-20180724/ 98M$ HQ to be built in Arkansas. Interesting.