RE:RE:RE:RE:RE:RE:RE:RE:RE:Bye-Bye Coeur 'slam dunk' Hostile Takeover BidCoeur opportunistically acquired1 1,067,714 shares of Victoria in a stock transfer of 12 million Coeur shares to Orion..There was press release,of acquisition of shares filed an Early Warning Notification filed and an Agreement with a Support Agreement with Orion filed with SEDAR and SEC.
This initiated a 50% rise in Victoria share price and a large increse of daily volume -Coeur had put Victoria in play.
Orion pledged in Support agreement its unsold Victoria shares to supporting an over 50% position of Victorias shares and with 50% of Board approval.The key here is 50% of Board
The big winner will be Orion as it profits from its remaing Victoria share position and a return of 75% of spread of the Victoria shares sold at 13.50 and aquisition price.AND in Coeur shares
Victoria advanced its exploration of Raven and deep drilling in Eagle pit.
Somehow OCD contiued his manufactured a hostile bid,a lowball offer, theft of share price that threatened hid big payday while cheerleading a 25-30 share price and now even 35..
THIS EVEN CONTNUES AFTER a Shareholder Right Plan and a Issurer Buyback Authorization of 5% of stock from the Board
Victoria is pulling back from its 21.00 peak on lower volume and addition to GDX.
The Board meeting showed no bid and the opened up data room with CA's.. in the end this will be valued by the numbers crunchers dictated by N43-101 ozs in ground,production figures,recoveries and strip ratio's even price of metals with an exaggerated premium if a bidding war. erupts
The most threatening would be an all cash offer from a major before exploration and production increases are realized.
Anything that OCD percieves to threaten his "big payday "becomes the target of his tantrums,insinuations ,taunts even stalking mingeled in with hyperbolic proections or flights of fancy..
I have not bashed Victoria unless you count the single asset miner and the myriad of unciontrollable events that jeopordize them..