Sep. 9 at 5:07 PM
$EMX I like that the merger will make this a mid-tier royalty company. I like the
$1B market cap (although I think the EMX assets alone are worth that)
I don’t like the dilution to Tether, I wasn’t too concerned about the debt, although I can see the benefit of being completely de-levered with 80MM locked and loaded (plus the cash flow)
But I really don’t like the idea of Dave being answerable to a larger ‘pool’ of opinions and interests, and I DON’T like the idea of becoming another royalty acquirer.
That pile of capital might vanish QUICK if this new board is interested in high-fiving and drinking champagne over any and every new deal.
If Tether et al. stand back to let Dave & Fred ’cook’ (as the teenagers say now) I can see this hitting
$2B in 24 months.
