Morning Everyone!Beautiful weekend to all!
I voted on Proxyvote.com fully knowing that my dislike of this deal has not altered since Feb 8,2016. That happened to be my wife's birthday. Need I say that the email announcing great results of 144 was a birthday gift of sorts, but that all changed when an email announcing this Tahoe deal arriived 45 minutes later.
I started off today with a large bodum of coffee and inserted my control # into the voting site and voted my shares NO. I also inserted my email to receive confirmation of my voting instructions.
This is general language on the proxyvote webpage:
Your vote instruction(s) have been submitted.
Votes can be changed until voting deadline.
On the day the takeover was announced. I was having coffee with a friend when I received an email to call my finanacial advisor. For an hour, I watched with interest how LSG was trading. Shares went from $1.49 to $1.71 ( as I recall) . As LSG shares were increasing that day, I did give it thought to selling out to get my $1.71 I got in my car and listened to instructons to call our broker. I returned the call and said I was unsure of giving a sell direction since I needed time to digest this deal and make sense what this takeover seemed to be robbing me of LSGs sole potential as a gold miner. My no decision was formulated the next day and has remained that way since.
It is interesting that one of our board posters demonstrated how two other gold holdings have changed since our proposed takeover was announced. The bullish gold trend has channelled upswings in gold miners, yet that investor's simple data shows us that LSG has not benefited from the BODs so called premium. So I have voted no as a little investor and have my fingers crossed that this deal does not reach fruition.
One other thing. In early January. OBAN tookover a speculative play Northern gold mines. My 60k shares in NGM got muted to nothing to speak about. On the day the deal was consummated, Oban shares were trading around $1.20. As little as one week ago, the shares traded at $1.02-1.04 approx. Friday, they traded at $1.08. So even with gold trending Oban SP is spinning its wheels.
Not all takevers are benefitcial so it seems