La Mancha Resources Inc LACHF

Mingboggling Stupid

[retiredcfo]

• Strong production of 30,620 ounces of gold at an average cash cost of $766 (U.S.) per ounce;
• Cash flow from operating activities of $21.2-million;
• Cash and short-term investments growth to $127.0-million;
• Net earnings of $7.8-million;
• Total revenues of $52.3-million;
• Board of directors unanimously recommends the acceptance of an offer to purchase all outstanding common shares of La Mancha by way of a takeover bid at a price of $3.50 per share in cash;
• Offer open for acceptance until 5 p.m. (Montreal time) on Aug. 27, 2012.

Mingboggling stupid to accept an offer of $3.50 per share for this company even its very strong financial position and world-class prospects all over the world. This company is being stolen in a leveraged buyout.

[BearBullBrian]

My guess is that there are some serious Arab politics that have come into play. Sadly, there are reasons why nobody else has expressed any interest for all the time this has been on the market. I feel we've been robbed, but anything's possible on the Canadian market...I've been robbed a few times playing these junior resources. Sudan is a terrible place in the world right now and there