RE:RE:RE:RE:RE:RE:RE:RE:NR 101I have been reading all the comments since the morning. Thank you maccer for laying it out to the majority of these blind "investors" drinking the kool-aid.
I am a huge KL fan (for many years even when Ogilvie was running things with Harry Dobson and turned the tide around for Makuch to come in after LSG). But, I cannot understand how ES could get the BoD to plunge $ 56 M into a pre-revenue pure exploration company like Novo. Madness. Valuation is still huge at $ 4.00 per offering today.
When a stock goes down 27.58 % in a day, expect FOLLOW-THROUGH SELLING, especially since tomorrow is the last day for tax loss selling. Obviously as most people don't seem to get, Sprott wants to INFLUENCE the SP of his personal investments & those of his hold co.
Example: See today's press release after hours Garibaldi put out saying Sprott bought over 2 M shares between mid November to today =
straight up publicity in a sense even if necessary for disclosure purposes.
80 % of the posters here are clueless in corporate finance and talk out of their a*s about mining and deposit #s. The #s were not that great at all and clearly illustrate there are months if not years ahead of work to do.
This deposit needs tens of millions cash to develop into a credible resource. Of course there is gold, but completely NOT viable at this stage. KL can write this off with a wave of the wand if it does not pan out.
KL hit a new 52 week high today of $ 19.26 CAD...obviously the market and KL shareholders have discounted out Novo investment and quite frankly don't give a SH*T how Novo does, and why should they. KL is a market darling.
sandie, gateway all you posters wake up or you will get burned alive in the cauldron.
and sandie as to your comment about KL valuing their investment in Novo when Q3 Financials were released...
this is the PRE-tax amount of their holdings at the current valuation when Novo was near $ 8 CAD per share when Q3 was RELEASED. This was the market value and pre-tax since they still hold 100 % of the equity. So big deal if they reported it in that way in Q3...that's accounting 101. This whole situation is reminding me of the graphite and rare earth craze of 2011 - 2012...people were burned then heavily.
JIN
maccer wrote: I can see you are ignorant just like the majority of the board so i will lay it out for you
KL invested $56 M into NVO at $4.
KL stated that following a recent block purchase, it owned 9.2%. Newmont announced it had sold 11.83 m shares of Novo at $1.60/share to decrease its ownership from 14.9% to 5% (pre today’s announcement)..
KL will now will own 18.2%of Novo.
Eric Sprott owns 11.5% of Novo (pre KL private placement) and 10.8% of KL Gold.
Who's idea do you think it was to take down the NEM stake? if you can't figure this stuff out from here I refuse to shed any more light on it.
You are wrong in believing the NVO position means anything to KL performance..it means more to ES than it does to KL