HW on acquisition trail ??Harry Winston now over $12.00 headed for $15.00 !
HarryWinston recommended at $3.08 on March 20, 2009 as a Good Absolute SpecValue Buy on the premise that the arrival of Kinross as a majorshareholder would give management a mandate to pursue growth through acquisition once the financial situation had stabilized and retail diamond was back on a growth track. OurSpec Value Buy recommendation is up 415% but we recommend holding thosepositions while we wait to see if rumours pan out that Harry Winstonmanagement is serious about acquiring other near-production diamondassets. The burst of market activity in Mountain Province Diamonds Incwas apparently due to a trial balloon Harry Winston excutives floatedpast institutional shareholders with regard to a buyout of MountainProvince and its 49% stake in Gahcho Kue. We think the whole created bysumming the Harry Winston and Mountain Province parts is worth a lotmore than the sum of the parts.
We may see some action in this area with Harry Winston trading over $12.00 ! (IMHO)
Marine2