RE: updatewell that explains the sell off going on. i think i would be selling too if i was just given 1.5 million shares! this spin-off will be interesting. will the market still slam us with a discount? who knows. but the new ghana company will be worth 1 million shares of detour so say right now 20 million and then they also gave a value of 25 million for the property so newco should be worth a minimum 45 million which would translate to .63/share based on the current # of shares outstanding on pelangio.
then the new holding company of detour shares... will there still be a stupid discount?
it seems to me like the current shareholders of pelangio stand to make some nice sized gains coming up and then if there is a takeover even bigger gains.