RE:RE:Just a thought...Why M&A makes sense to me is to make better use of their balance sheet as cash will continue to pile up and to further develop their pipeline of projects. They need to put their money to work and get a return on it...simply hoarding it with no return is not good for the company and does not look good on management or the Board. I thought they would have bought out premier gold for that other 50% so was surprised they sold their stake...further surprised at the deal as I didn't think they got enought for it, which begs the question, why would they need additional cash now?
Regarding who, if I were them I would look into a Junior that has good assets that are backed up by sound geotech investigations and quality (projected) low AISC in a mining friendly jurisdiction(s) with hopes that this additional diversification would result in a rerate of the stock. CG's valuation is presently depressed due to political risk in the Kyrgyz Republic. They've worked to diversify the location of their of their projects and will need to continue to do so for a rerate. Getting a good price for a Junior that perhaps has some legacy balance sheet issues would be a win...alternatively, a merger of equals that brings in a rerate would also be welcome in my view.
Analysts have been asking management on what they plan to do with their cash on recent quarterly calls. In response, CG has only advised that this has the attention of the Board. Given this, the nature of the Greenstone sale and the timing of the new credit facilitiy, I think they are positioning themselves for some M&A activity.
Unlreated to the above - why do you keep going on about a reverse split? I don't see any merit in doing this for CG.