iShares California Muni Bond ETF T.CMF.A

Primary Symbol: CMF

The investment seeks to track the investment results of the S&P California AMT-Free Municipal Bond IndexTM. The index measures the performance of the investment-grade segment of the California municipal bond market. The fund generally will invest at least 90% of its assets in the component securities of the index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the index, but which BFA believes will help the fund track the index. It is non-diversified.

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iShares California Muni Bond ETF > $10 coming soon

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Comment by efficientmyasson Jan 13, 2010 9:58am

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Post# 16672755

RE: $10 coming soon

Top up agreement between Agnico and Troy expires today

Dated July 13th 2008

Troy Resources NL (Troy) agrees to sell its 7,628,571 shares in Comaplex Minerals Corp. (Comaplex) to Agnico-Eagle Mines Ltd. for CAD6.15 per share, a 21% premium to the most recent market price. Troy has also entered a Top Up agreement with the Company where, if the Company moves to a majority interest in Comaplex within 18 months of this agreement, the Company will pay Troy the difference between their final purchase price per share and the transaction price of CAD6.15 per share.

If Agnico paid ~$245 per oz of gold in the ground at meadowbank (2.9 million oz resource at the time) when gold was changing hands for $650, what is a reasonable price to pay for Meliadine considering it is:

Higher grade
better situated

Even if you use the same $245/oz of gold in the ground, it works out to $17 per share of CMF. IF you adjust the price to $430 per oz of gold in the ground to reflect today's substantially higher gold price it works out to around $30 per share of CMF.

FWIW, research capital just raised their target price to $12