RE:bittersweetThis is spot on.
The fact Waterton was buying heavy before is completely odd. That is why I never thought there'd be a takeover...just yet. Due to the heavy buying by Waterton as a big insider just doesn't make sense in the legality sense. Someone HAD to have known for sure.
Looking at the volume, Waterton is probably already mostly out of their position! Waterton wasn't even mentioned as one of the major shareholders signing support agreements even though they owned 18 M + shares and all the warrants.
This was a quick flip for a huge premium for them. $$$$$
Hecla quite frankly is pure garbage and horribly run with costs not in line. As I said, scary when the acquirer is already at a 52 week low. Not a good sign. The time to exit was at 9:30 AM or in the pre-market.
Management completely screwed KLDX shareholders, the big winner is Hecla OR if you were a KLDX shareholder and got in the last two weeks then sure you did wonderful (95 % of persons were not). Very disturbing.
TOP Pick: Kirkland Lake
2nd top Pick: B2Gold
3rd top Pick at this price: Pretium as they bring back things to steady state in H2, nice 45 % haircut from highs
JIN
insideoutside wrote: A good opportunity to exit your postion.
What we know:
-Hecla is a GARBAGE company (yes SSR would have been 10x better)
-Just like Klondex management, Klondex Canada is cr@p.
-Shareholders thrown under the bus. Im sure managment gave themselves a bunch of cheap options. And Waterton is the big winner. I don't even see how they can take such a massive position right before the takeout and not charged with insider trading or have other legal charges. Disgusting. And they trade in the US too. Will keep an eye on this.
-There are other good junior miners out there with more reputable management so good opportunity for folks to move to green pastures.