RE:RE:RE:RE:RE:RE:RE:Again: NOVO UP and Artemis DOWN!wwadehammer wrote: I had Integra Gold which was recently bought out by Eldorado. The SP in the months before stayed in the same range for around 2 months despite very good drilling results. Someone was driving the SP down at the end of the day. Also, drilling results for key targets were never issued and a year's worth of drilling was never quantified into a PEA. Of course it was a set-up for Eldorado with to buy it cheap with management getting hugh payouts.
Here, I see the same pattern of holding the SP down to make a buyout offer for say $0.50 look good. As there a four major stockholders, this stratagy might not work if they stick together and holdout for good drill results. As Novo is running the drill program, the first set of drill results could come back short of expectations at which time someone could move to take out the JV portion with Novo. You may think I paranoid but look at the stakes.
Hi Wade
Yes, this certainly strikes a chord. In the weeks and months prior to the take out by Eldorado Integra's shareprice was definitely being held down and most posters at the time did not see a cheap take out offer coming. However, this nowadays seems to be the norm rather than the exception and in the cases that I was in this was exactly what had happened and each and every time to the chagrin and great frustration of many retail shareholders.
Is it fair? No..... most certainly not, at least not ehtically.... but it's the real world so we better get used to it. (Like Keith Richards once said when Mick Jagger and the other Rolling Stones were complaining when they got s.c.r.e.w.e.d. over badly by American manager Allen Klein who had managed to become the owner of almost all their songs. Richards just observed: "Hey man.... it's the price you pay for education".
Will it happen to Artemis? Possibly...... but then again maybe not. IF, and it certainly is still a big if, Wits2 materializes you may ask yourself whether ANY Ceo or board member would be happy to walk away with a golden parachute, no matter how big.... The proceeds of Wits2 would in this case far outweigh the bonusses that any third party could offer them. So it might just be the incredible amount of money to be made by taking Novo and Artemis' gold to production that could prevent an early take out.
I hope we will go the distance but in the event of an early take out we will prosper! (we just won't make as much as many here expect)
Holding with confidence,
Honkytonkgirl