G's bid blocked till March 6. What if...If you have read the NR just issued, based on the court agreement, G's bid is blocked until at least March 6. So let's look at alternatives.
The fact about 200 million shares changed hands in the first 3 days after the bid means the balance of power is now in the hands of the arbitrageurs. They paid $6.30 a share and they want to get their money back fairly quickly with a good profit. As much as we would like to, going back to the pre-bid status quo (which I would have preferred) is not feasible. OSK management will come with an alternative.
One alternative that appeals to me is for OSK to merge with Detour under OSK management. Detour currently has no permanent CEO and thus this potential block to a deal is not there. Their properties are close, on each side of the border. Their total reserves are similar. Both are grosslty undervalued. Detour is at least one year behind OSK in ramping up its mine and its balance sheet is weaker than OSK and it needs a new CEO. Welcome OSK??
""Detour Gold started gold production at its Detour Lake Mine in February 2013. Currently, Detour Lake contains an open pit mineral reserve of 15.6 million ounces of gold using a cut-off grade of 0.5 g/t. Once fully operational, the mine is projected to produce an average of 657,000 ounces of gold annually over a period of 21.5 years. ""