RE:RE:SHORTS ARE UP 25,000 AS OF MAY 15And then there's another way to take McConnell's comment MVargas that benefits both Banyan & Victoria shareholders.
Maybe what McConnell really means is that he will only let someone else take out Banyan IF they take out Victoria with it at a price of his / Banyan's liking. Between the two companies, they are siting on over 12 million ounces of gold which is only likely to increase over time with more drilling. Many VGCX shareholders also own Banyan shares and would likely benefit even more in this scenario.
And Victoria doesn't need to buy out Banyan to prevent a sale as they could also just acquire enough Banyan shares to maintain a controlling interest, either on their own or in conjunction with other major Banyan shareholders who would support a joint Banyan-Victoria sale only, until someone comes along willing to pony up for the two companies. With the low grade ore resources of both Victoria and Banyan, Gold price will clearly dictate buyer interest in the end, but I wouldn't rule out such a scenario as being the more likely outcome vs. a complete buyout by Victoria.
HB77