ICG - Royal Bank Initial Coverage and offer of $2 per shareNot sure if this has been posted, but just came across the link below which reports
- RB Initial coverage: Target 1.00/s (don't have the link to the original report, anyone?)
- It also mentioned the old targets: Raymond James: 1.10/s and BMO: 1.25/s, and an average of 1.07/s. No idea how they calculated this average, but this is not the same as reported by ICG (ave: 1.16, max 1.75), see slide 25 in the Corp Presentation, link at the end. This slide is highly informative (only 1 glance is needed to hoist in all info). It`s probably time for ICG to update this slide to squeeze in more coverage.
Just a math exercise while we discuss the SP value.
A 50% premium of this average would give 1.16 x1.5 = 1.74. So, an offer of $2.00 per share, i.e. a 70% premium, (in G shares and a large chunk of cash for NewCo, say around $100M) would win quite a few yes votes. This assumes that G would pull out its PRB playbook and propose a 15% stake in the NewCo.
https://dailyquint.com/2017-01-10-integra-gold-corp-icg-coverage-initiated-at-royal-bank-of-canada/
https://www.integragold.com/i/pdf/Presentation-Jan-2016.pdf
GH