RE:RE:Why a consolidation after the pp? Make no sense!!!Juniors are essentially in the business of finding a worthwhile project and selling it - THEY WANT TAKEOVERS. Carlisle obviously did otherwise why organise for AuRico, Nord Gold and many others to sign agreements. Management were looking for a deal. But they were on a clock - they had no cash left. AuRico appear to be the only one to come up with an offer.
You should not be blind to what Nord Gold did. There is no way in hell any management could have told Nord Gold that AuRico were making an offer - they really would be sued and it would be justified. Generally, companies give prospective bidders a timeframe - I don't know if this happened.
No management would trust what Nord Gold did - if they genuinely made a mistake waiting too long to put in a bid they would have approached the board and put their case behind closed doors. They would not have made a public announcement asking for permission and then in contravention of the agreement disclose what they planned to bid and put conditions that could not be met. It was a tactic designed to fail and to embarass management. Do not be so naive to think they did not know what they were doing.
That said, I don't know if Carlisle management have acted as well as they could have done and none of us know if the AuRico deal will deliver in a reasonable time a better value than 9.6 cents. I'm just not prepared to slam them when they managed to get a JV (plus $10m cash) and sort of get a takeover offer given the climate for juniors. The most likely prospect had been massive dilution and a PP around 4 cents - which would have been disaster for everyone.
Dave - sell, hold, add, whatever - that is up to you, but you might want to wait to see what plans AuRico announce for Lynn Lake, what plans Carlisle announce and at least to see if the new year brings back some tax sellers as it does every year. AuRico have spent $10m so far, plan to spend another $20m and another $2m a year on new exploration. Show me another junior that has that kind of budget.