IamThe following post was originally made on the Oromin board and copied to the IMG board. But you could substitute MXI for Oromin and the post would lose none of its effectiveness or accuracy.
It is IAMGOLD that is dragging Oromin higher (what
brokerscall the "halo" effect). IMG announced on Wednesday that they made $44million profit in the last quarter and the stock was up 10% in the lasttwo days. They are covered by 21 analysts, and all of those analystsnow have Oromin on their radar. OLE closed higher on volume in the lasthalf hour of trading on Friday, something it has not done in the last 41/2 years. IMG is in the process of raising $700 million. It is likelythat most of that money will be used to buy out MDL and the other 83%of OLE that they don't already own. I expect an offer in the next 4-6months. More to come......Not my comment but thought might be aninteresting read as its related to your company?I am not a Iamgoldshare holder yet?But if they do decide to take over Oromin it might bea share swap?Probably good for us Oromin share holders.Good luckeveryone Ron