RE:RE:RE:RE:shareprice lagging Hey Matt,
I get that you're not impressed by this deal. And I agree, i'm scratching my head a bit about the why. There's got to be something that we aren't aware of or looking at that attracted the attention of FF.
I'd like to clarify the numbers being thrown around though. Theres ~200k Indcated, ~250k infered, NI 43-101 resources and $11M on the books. We paid with the equivalent of $27M.
I'm just a simple country boy, but by my calculations that's equal to ($27M - $11M)/~500k = $32/oz of gold. So quite a bit over our target of ~$10/oz.
I'm not going to defend the deal until we have more information on what managment is thinking here, but I'm not going to hyper critisize them either. They're a smart gang, I hope they must see something here that we don't. I'll bug KN at the FR AGM this spring and see if he wants to comment more on it.
BR,
>DM
mattbigham - (2/17/2016 4:29:12 PM)
RE:RE:RE:shareprice lagging
If any of that were the absolute truth this stock would be hitting 52w highs day after day. Real dilution has occurred and is evident as there are more sellers than buyers. 34 cent Clifton shares are on offer today-a boatload of them- and despite gold moving up in spectacular fashion FF did not.FF acquired 199,000 oz of indicated gold for $27m.Pretty cheeky to be rolling out the GOLD PER SHARE INCREASES WITH VERY DEAL! spiel. Large font does not magically turn words into gold oz. so we should all hope that in May when this deal closes FF follows with an acquisition that increases shareholder value.After all,the market itself always has the final say.