TMM's bid for CGC"Timmins Gold's proposal has avalue of US$5.55 per Capital Gold share and exceeds the value of theGammon offer by US
.64 per Capital Gold share."
The above is TMM's letter to CGC shareholders. CGC closed at $5.46 today lower than what TMM is offering. That is 9 cents, and if I own 10,000 shares of CGC, i would have $900 more in my pocket than GAM's offer. So, why would I not choose TMM's offer?
Tomorrow we will see the financial position of TMM, probably more cash than everybody in this board thought and it will be very positive for the market. CGC claims TMM is illiquid.