RE:SIDE DEAL FOR MANAGEMENT?I think mngmnt will stay on to further develop MB,, am not sure but the wording in pressed seems so, hilarious blog titled why management is supporting yamana, and the only thing of substance inside is that the resource will have a good chance of being developed under Yamana, because of thier deep pockets and expertise,,,,, but people who invested in good faith that MGP was here to increase the resource size which they did, also expect MGP to sell only WHEN the market bears a realistic price!
just because this is the best offer they could come up with during "difficult times" does not mean it is woth accepting,,, hold on people,,, if I went to 15 people with some disposable income and said .... Hey let's all throw in a mill, and we can own outright 6 BILLION dollars worth of gold,,,, ummm I wonder how many people would be pulling out thier cheque books...lol..
I would have thought with my VERY LIMITED research on this topic, and my UNSOPHISTICATED dare I say AMATURE level of expertise on investing,,, I can find many examples of takeovers and JV's at much better prices.... And even I can find recent examples of much much better deals....
i would think they could have found a JV that allowed them to keep 50% of MB and the rest of thier cash and other properties for the 17.5 mil they got for the whole package.,,,AT LEAST,,,OR BETTER......all while they spend nothing to continue to further the project,,, that seems ALOT closer to wat I would say is still a very good deal for Yamana...
perhaps not at this time in the market, so my answer is,,,WHY NOT WAIT FOR A BETTER OFFER?
i will be voting "no" as I see this as the worst time to sell if this is the best offer out there,, i am happy to wait it out and see
Yamana on the bright side is a huge monster,, that produced ( in round numbers, cause I don't want to look it up) 800,000 ounces of gold last year, MB ultimately represents 6 full years of production ,,,, that is MASSIVE!! Yamana gets to add to thier reserves near 5 m ounces proven,, plus icing on the cake,,,, that is MASSIVE!!! Did I see not positive they currently have 10 m ounces undeveloped? This is a huge addition to the company,,, will this tiny 17.5 mil dollar deal be the thing to turn Yamanas ship in the right direction,,, could be,,, but if I get Yamana shares I will likely sell them immediately..
aplogies for for venting folks,, have a great weekend!