RE:RE:RE:RE:RE:RE:Lamaque deep mixed messagesBlue, some comments below.
- Open door policy: True that any respectable entity, e.g. G or AEM, etc.., even an individual like one of us, if we have a sizable chunk of shares, would be able to access the "data room" if they are willing to sign the CA agreement. This is a more reliable way to obtain the info with the promise to keep it to yourself. But there are other way to get a general idea about some key information... through "rumours" and "gossips" at the so-called local watering holes.
- Seat at the BoD at 20%: It's all depend on the agreement between the 2 companies involved. I am not sure if this was written in the original "15% strategic investment" (ELD holding has been reduced to 13%). It would be useful if you could point out a link to this fact. I believe that at the 20% level, a company (ELD in this case) would be required to complied with another set of security rules to prevent a creeping TO of the target company (ICG).
Note: As indicated, it all depends on the mutual agreement. We have a case at hand, ICG and ER. ICG had the original " less than 10% strategic investment" in ER but has 2 members sitting on ER BoD (de Jong and Salamis) and two Tech Reps/Advisers on the exploration program. Not too long ago, ICG sold some of the holding to reduce it to 5.1%, but since it above 5% there is no chnage in the BoD and Technical representations. This is so, because the agreement says so.
- ELD war chest: True that it would appear on the surface that ELD has about $1B at its disposal. But, I believe it has some debt over ($0.5B, don't remember precisely how much, could be some 0.6B?). The due date is not too far away, so ELD would have to make sure that it would not get caught between a rock and a hard place, if they could not re-finance the "long-term" debt within a year and something would happen to Greece and/or Turkey.
May be, there is some incentive to for ELD to retreat back to Canada (Val d'Or has a nice ring), but I don't think ELD can compete against the other majors (Alright, ELD can certainly start the bidding process, let's give it that credit, lol).
Just my take.
GH