RE: RE: Do your diligence Aurizon is clearly the better investment of the three companies and that is why HL and AGI are fighting over it. They could repurchase their own shares if they thought they were better investments.
Casa Berardi is one of the best mines in Canada and Aurizon has one of the best balance sheets in the entire sector. Mgnt showed restraint not blowing their cash on an acquisition . . . gold mines have been declining in value for a couple of years. Cash has been the better investment.
If Aurizon mgnt gets shareholders an additional .$20 or $.50 per share prior to getting fired, I don't care what options they paid themselves.
If AGI wanted an amicable deal, maybe they shouldn't have badmouthed Aurizon's people on their conf call and stated their intentions to fire everybody. That was unprofessional and stupid.
I initially felt like $5.10 was a good price for ARZ, but the break fee burns $27 mm of ARZ's cash, so now I think AGI should raise their price to at least $4.94 or they don't get my votes.
Math goes like this . . . $5.10 - 27/195 = .16 so $5.10 - .16 = $4.94
Just my thoughts . . .