RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:New 52 week lows hit today...... Human7 wrote: I'm not that good at the number crunching as i am in the reading of people. I think a key fact here is that in a very recent interview McConnell described Couer as wanting what's best for Victoria Gold.
If true, that suggests to me that Coeur has given up on the possibility of acquiring Victoria. It was always going to be difficult to get the VGCX Board to agree to be acquired for less than $20 - $25/share, which if an all-share offer and considering the slide in Coeur's share price since their acquisition of VGCX shares, would result in massive dilution of their own shares.
So that probably means that nothing will transpire prior to October 31 when the Coeur - Orion agreement expires. Coeur may unofficially make it known that they will support another suitor's bid, provided that it not be made prior to October 31, otherwise they will have to pay Orion a lot of money. Orion cannot support any other bid prior to October 31 because they are legally bound to make their shares available to support a Coeur bid prior to October 31. So after October 31, another suitor can enter into lock-up agreements with both Coeur and Orion. Coeur will make a nice profit on their 11 million shares purchased from Orion at $13.20, and Orion will happily sell their remaining 12.7 million shares for $20+ after selling 11 million shares for $13.20.