Prodigy Gold Inc KXLAF

takeover?

[Nomad3]

Alot of speculation brewing in regards to IAG sitting on 1.5 billion in cash is shopping for a junior in Americas...

 

Northern Securities mining analyst Kwong-Mun Achong Low reasons that the most likely takeover candidates (in alphabetical order), are Belo Sun Mining (BSX-T), Probe Mines (PRB-V), Prodigy Gold (PDG-V), Rainy River Resources (RR-T), Sandspring Resources (SSP-V) and Sulliden Gold (SUE-T), and claims they could all be of interest to Iamgold or “any company” for that matter that is “looking for significant exposure in the Americas.”

[stocksalot]

Iamgold just took out Trelawney Iamgold Corp Symbol C : IMG Shares Issued 376,063,280 Close 2012-04-26 C$ 12.42 Recent Sedar

[duchebaggie]

I must admit I am shocked with this annoucement. The acquisition of TRR is much more expensive than it would have cost to buy PDG, VIT or SSP. Why would they pay 5x the price for roughly the same resource? Go figure.

[Nomad3]

The  85/0z offer on trr would value pdg at least 1.13 shr.   Keep in mind our indicated to inferred ratio is much better so that value should be higher. 

[muffin17]

You have to take into accout that TRR has over $100m in the bank from recent financings.  So Iamgold bought that cash on hand at the same time.  Therefore they bought the oz in the ground for considerably less than $85.  We have a lot more shares O/S than TRR. IamGold got themselves a pretty good/sweet deal.  PDG has the same problem with the very low valuation of $/oz of

[green24]

What is Prodigy's $/oz in the ground number?  I saw an analyst on BNN a few days ago say it averaged $120/oz for juniors a year ago, but in May has currently fallen to $60/oz Au in situ now.   That is market cap average per ounce of gold.