Great Bear Royalties GBRBF

Future of GBRr

[Donhow]

My take is that until the takeover of kinross by a major is complete GBRR will go sideways or down. Kinross used all their cash and then some to buy gbr. They even stated they were planning to finance at least part with future cash flow. So they can't build a mine. Once they have completed the deal and own gbr the majors are free to bid on kinross without a shareholder revolt since resource estimate would be in with kinross. All the majors are trying to curry favour with the big investment funds so they won't bid until it's part of kinross. The only problem is that the recent takeovers have been at small premiums.(see the aem-kl deal -10 million new measured and indicated oz for 0$)
Anyway once kinross is gone this should take off.

[ghostzapper]

It takes 2 to tango and Kinross may not be interested in selling at a small premium. 

[Donhow]

If kinross has any problems with the situation in Russia or Africa (which are not unlikely) a major could do a hostile for less than the current price. They would pay for great bear and tax losses. Look what gbr did- no maiden resource or any new results- and management contradicts themselves and sells. Or kl that found 10 million oz and sold for no premium what two weeks later. I dumped my gbr