TSX:LSG.DB - Post by User
Post by
halcroon Feb 08, 2016 9:08pm
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Post# 24537955
Stockwatch article
Stockwatch articleGold Summary for Feb. 8, 2016
2016-02-08 16:13 ET - Market Summary
by Stockwatch Business Reporter
"...Tony Makuch's Lake Shore Gold Inc. (LSG) gained eight cents to $1.57 on 70.87 million shares on word that it will be absorbed by Kevin McArthur's Tahoe Resources Inc. (THO). (Tahoe lost 75 cents to $10.91 on 9.66 million shares.) This is apparently the "speculation concerning a potential transaction" mentioned on Friday by Mr. Makuch, when he denied knowledge of "any material, undisclosed corporate developments" that might account for his stock's sudden spurt upward....Tahoe's chairman, Alan Moon, will join Tahoe's board and the 56-year-old Mr. Makuch will become Tahoe's president of Canadian operations. The transaction is clearly a change of control and Mr. Makuch's new job is a diminution of the title that currently appears on Mr. Makuch's office door, so he should be in line for a hefty payout -- an estimated $4.9-million had it occurred at the end of 2014.