RE:RE:RE:RE:RE:Strategic Investment Announced Initial Thoughts: With a proxy fight recently being initiated by Columbus Gold, that seeks to seat 5 new directors to the Eastmain board, on the stated basics of lack of progress, with the unstated basics being that of a cashless takeover by Columbus Gold, Eastmain acted quickly to thwart this action by accepting Integra's strategic investment, along with replacing the current CEO with that of one of their current directors, Claude Lemasson, and with the seating of a director(s) from Integra.
Integra has no doubt been in negotiations for some time now, and whatever hurdles had existed, were quickly resolved upon Columbus's actions. Again, Integra is thinking ahead of the curve, and if past history is any kind of indicated, this investment will also provide value to their shareholders.
Positives - 2nd highest grade open pit in N. America - 1.6 million ounce with upside potential- 98% recovery - Infrastructure - 8% investment by Goldcorp, with Eleonore right down the road, Van Eck, Sprott, TD Asset Management, and BMO Precious Metals.