SEA-- and Iamgold purchaseYou have to wonder what Iamgold or anyone else is smoking not taking a run at SEA here...... At current valuation, for SEA, they could have bought 5 times the ounces in the MEASURED category rather than inferred for another 100 million... how does that make SEA shareholders feel? Our current market cap here at this price just uner 800 million... with 1.4 billion in cash, Iam gold could have bought out Sea's 24 million ounces at 25 dollars a share... for less than 20 dollars an ounce in the ground in canada... close to other major mines and infrastructure and power....and would have been in a much better position... buyout for SEA here is imminent IMHO...
For Iamgold Corp. (12.26-0.16-1.29%), the $608-million acquisition of a little-known Ontario gold explorer is a step toward two key company goals – offsetting an Africa-heavy portfolio and propelling it toward a goal of doubling production in five years.
Toronto-based Iamgold is offering $3.30 a share for Trelawney Mining and Exploration Inc. (3.270.9540.95%), which gives it control of a large gold deposit practically in its backyard, thousands of kilometres from Iamgold’s key producing assets in South America and Africa.