RE: RE: RE: RE: RE: RE: RE: RE: RE: McConnell - Wh Im not sure about this statement. Don't know much about Sun Valley, its a better name for tanning salon. Kinross is definately not looking at Victoria gold at $.0.020 or 1.00.
Tye Burt bought shares in Victoria and other companies like Harry Winston and junior golds.
Then bought Redback mining and their stock tanked.
I am trying to help the newby here so he doesn't get stung
The reason Kinross can't do a buyout of Victoria Gold and develop the Eagle gold project is money. Kinross has had to borrow money to develop their own problem projects, while on the other hand cut funding for some of their development projects like Fruta del Norte, Tasiest a couple more.
Kinross shares in Victoria gold are held at a loss and are for sale, check sedar 2011 financials
They also had to increase the dividend to shareholders because under their leader Tye Burt their aggressive expansion and years of filling their pockets with high wages stock options, bonuses and pure greed left really nothing for the shareholder. They drove the stock price from over 20.00 to 7.60.
Eventually the leader and board who approved these things fired the leader and said need to change the way we run this company. However appointed one of the gang to run it. Not sure if this was smart.
They upped the dividend, promised shareholders no more missteps, cut expenditures and focus on developing the current properties that they promised they would develop in the promise they made years ago.
Kinross is also promising to use this money to pay more dividends and to vigoruously defend its self against the lawsuits that caused this mess.
So rule out any profit from Kinross Gold buying out Victoria Gold as Kinross shareholders stand to benefit if Victoria can get their share price higher because they would likely sell the shares and use the cash to develop well you know the properties they keep saying they are going to develop i the last M/A and financials.
the end.