Good Deal All AroundYes folks, it is the end of an era I suppose.
Agnico Eagle have jumped in with both feet at Meadowbank and now Meliadine.
This isn't the place for a junior to try to operate but not everyone will have the terrific timing that Miramar had when it sold Hope Bay to Newmont for $1.5 Billion.
Meliadine is a great deposit and the belt has great potential however the big drawback is that mining rate will always be limited by the high amount of underground development required.
Valuations may suggest $16/share is more appropriate but $10 today looks pretty good considering the hoops involved in permitting etc.
Comaplex insiders have done very well expecially in the last 2 weeks when they exercised a crap load of options to set up for the announced takeover. I don't think there is anything untoward with this type of activity. George Fink, President nailed $20M and Mark Balog VP reaped $3M for their efforts.
Take the reward with none of the risk going forward.
Well done gents!!
Looks like gold mining in the territories is moving towards a zenith what with the likes of Agnico and Newmont operating and developing properties. Lots of jobs for anyone with any desire to work up north.
Congrats to all longs!
LC