RE:San Gold Excellencepigbruinmcveid wrote: I see that the San Gold excellence translated into a windfall purchase for Klondex - KDX announced recently that they have purchased the San Gold mines for US$32M. That is about $17 per ounce of gold in situ.
Of course the San Gold share holders didn't fair so well. The current liabilities of the company were well north of $100M so I doubt the San Gold holders will see anything much for Xmas...
No, nothing for the SGR shareholders, as the cash will be going directly from Klondex to the DIP affiliate which ended up with SGR assets.
Aweel, as to the windfall to Klondex, we'll to wait to see how Klondex fares with the mining and milling. hmmm?
As to any other windfall...well, the debtor in possession (DIP) seems to have got all of the assets and none of the liabilities for $24-million-plus (U.S.), and it seems that the DIP negotiated a sale to Klondex for $32 million (U.S.). Nice return!! Too bad Klondex didn't make an offer to the trustee, hmmm? Maybe $27 million (U.S.) might have carried the day?
Aweel, all water under the bridge.
As to Klonbex...here's a post from last week:
quote=halcro]
CucuIusCanorus wrote:
common denominators.
Charles Oliver was appointed as a special advisor to Klondex's board on June 17, 2015. He was the lead portfolio manager of Sprott's gold and precious metals fund.
Charles Oliver, a CFA, HB.Sc. in Geology, brings to Klondex over 25 years of experience as an award winning fund manager. He recently retired from Sprott Asset Management as Lead Portfolio Manager of the Gold and Precious Metals Fund. Mr. Oliver is currently a board member for Integra Gold. He began his career as a field geologist in Qubec after which, he moved to Toronto to work as a trader and broker, eventually joining the buy-side at AGF Funds where he was Senior Vice President and Lead Portfolio Manager of several funds including their Precious Metals Funds.
- See more at: https://www.klondexmines.com/s/news.asp?ReportID=712634#sthash.RqRZ2inr.dpuf
As of November 30, 2015, Klondex was in Sprott's top ten holdings.
https://www.sprott.com/products/sprott-silver-equities-class/
Top Ten Holdings
1.Silver Wheaton Corp.
2.Tahoe Resources Inc.
3.Fresnillo PLC
4.Fortuna Silver Mines Inc.
5.Industrias Penoles S.A. De C.V.
6.Pan American Silver Corp.
7.Hecla Mining Company
8.Silver Standard Resources Inc.
9.Klondex Mines Ltd.
10.Coeur Mining Inc.
Allocation data as of November 30, 2015
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