RE:RE:Take out soon To JV or be taken out, that is the question. Of which an answer seems to be on the horizon.
Corporate Presentation taken off of Integra's web site, perhaps being updated with breaking news?
As I've mention in the past when Integra first brought in Eldorado back in August, my believe was negotiations at the time had already been underway with general terms of what an eventual end game (JV or TO) would involve.
Knowing Eldorado's stock would take a major hit after their latest news releases concerning their Greece operations, I would not be the least surprise that prior to those 2 news releases (Eldorado's stock is down 30% since), terms of a JV or Take-Out between Eldorado Gold, and Integra Gold was already near completion, or perhaps had already been agreed upon. If so, all that was needed before an announcement was to be made, was the viewing, and approval of those terms by the BOD.
Any competent management team in today's mining sector, acknowledges the immediate risks that lay out ahead of them, and are therefore able to take risk adverse action to counter them. What could be a better risk adverse action taken by the Eldorado's management team after the Greece setbacks (which was totally out of their hands, but knew they were coming), than announcing to the market a deal with Integra Gold, and all of its many attributes.
Any good deal is a deal that works for both parties. We all understand what Integra Gold can offer Eldorado, what can Eldorado offer Integra?
I would be surprised if a complete take-out happens, if so then I'm looking at 2 different scenarios, 1) What our 10 analyst believe our company is worth collectively, .80 per/share. or 2) .60 per/share, cash upfront ($80M), with a 3%-5% NSR. New name of company - Integra Metals.
With either case shareholder approval is needed - 66.6%?
A JV of the Lamaque South, which is more likely, could see - Cash up-front for Lamaque North/Deep ($80M), development commitment up through commercial production ($70M), cash for future updated resource, up to $50 million. Total cash for Lamaque South JV - $200M.
Just my thoughts, perhaps too conservative, or perhaps overly optimistic, but that would be my parameters if I had to vote. GLTA