RE:RE:RE:RE:RE:Kinda ObviousI guess we will find out in due time
$10M for 6.3%
They own 20% of SpinCo, they didn't have to own any shares (if you read the circular in detail, their initial offer was for the entire company and not just Magino)
It will probably get sold at some point sooner than later but with gold marching past $2,500 that NAV is only moving upwards especially with a highly leveraged producer.
With gold at $2,200 SpinCo was making $1-200 an ounce.
At $2,500 they are effectively tripling profit per ounce.