Selwyn: Possible $0.10 dividend on a $0.08 stock

The short story is this.  Selwyn Resources recently announced a deal to sell its flagship deposit for $50M.  After paying off its debt, it should be able to distribute $40M to shareholders (or around $0.10/share).  Most of Selwyn’s shareholders now seem to be in favour of the dividend.  It seems likely to me that Harlan Meade will eventually get kicked out (though this is not a sure thing).

Here’s RCF’s position on it:

http://www.newswire.ca/en/story/1150743/rcf-comments-on-events-at-shareholders-meeting-of-selwyn-resources-ltd

*Disclosure:  I own… 1 share of Selwyn.  I may buy Selwyn shares in the future if my orders get filled.