Still Pi$$ed, but I'm all outFor me one of the big issues is trust. Do I believe that the present directors of LSG have its shareholders best interests at heart? What are they getting or will they be getting out of this deal: shares, options, bonuses? Anybody know? A
$37.8 million termination fee! What were they thinking??? Do they want to insure that this deal goes through? Eliminate other offers? Do I want to invest in THO knowing the political situation in Guatemala? Anybody want more risk?
I invested in LSG because it was a Canadian gold company with no political issues, and a good expanding resource base. I feel that being a long term shareholder, the benefits of the 144 gap deposit and other future discoveries, should have gone to us, rather than being shared with Tahoe. And the sharing is not equal: they will own 76%, we will own 24%, of the new company! As an investor, this is not why I purchased LSG.
Yes, the share price may appreciate, but with increased political risk. And who is to know where LSG would be trading at now, with the 144 results and the increase in gold price? $1.50? 1.60? Needless to say, I feel that the buyout premium was very small compared to what I would have normally expected for a deal such as this.
I've sold the rest of my LSG holdings this morning.
Good Luck To All!