RE: RE: RE: IMG bought out TRR "I didn't check the math, but $83 in the saftey of Canada seems like a excellent buy...???"
It was a STEAL!
The offer price is below where TRR was trading just two months ago and less than all recent PP's undertaken by TRR. Admittedly, I'm not all that familiar with the Company but in reading over the board this morning, most of the shareholders who post there are still underwater with the take out price agreed upon.
What I'm not liking is the VWAP approach to valuation in this particular buy out (volume weighted average price over 20 days). Truth be told, that's a measure oftentimes used to price a PP, not a buyout. In addition, it's an all cash buy out as opposed to stock and as such, current shareholders of TRR will have NO future participation.
As for VTR, its apple and oranges. Nonetheless, its always good to know what ounces in the ground are fetching even though TRR is in Canada. My hunch is that we will see a flurry of low ball bids acquisition wise. In part, that's good because it should help drive investors back into the sector. In part, that might be bad if one holds a stock like TRR at a higher cost average than what was offered. As for VTR, I doubt anyone would attempt a move prior to drill results from south Kiaka. Even then, I do not think its in the immediate cards.