Strange DealIMHO, Excellon buying Lateegra is one strange deal.
If shareholders of Excellon felt that the market was undervaluing the Lateegra shares, they could have just gone out and bought Lateegra shares. It was already publically traded. It looks like Excellon management felt that they should make that decision for the Excellon shareholders.
Personally, I bought Excellon because it was a silver producer with very good exploration potentional. Excellon management kept and keeps talking about being on the cusp of finding the "elephant". That coupled with the current and projected price of silver made for what I thought would be a very good investment. Now, it looks like they have shifted their focus to a gold explorer in Timmins with massive dilution to existing Excellon shareholders.
I just don't understand why they don't just concentrate their efforts on finding the "elephant" and not dilute existing shareholders.
How much further dilution will there be for Excellon shareholders in order to fund the Lateegra exploration? What about looking after the interests of existing shareholders?
I think Excellon needs to do a much better job of explaining their rationale for this deal.
JMHO