RE:RE:RE:The snow should be melted and the drills turningBarrick would have to exceed 50% ownership to force the remaining minority shareholders to sell.
90 day average Toronto volume is 114,606, and 10 day average is 74,303. The OTCQX site is down today, but it does a comparable volume, maybe a bit more. So consolidated volume is 200,000 or so daily.
If Waterton can't get out without moving the market, I don't see how Barrick can get in, for just a nickel. I expect Waterton still has a couple million, and that they are/were a factor in our low share price.
1. I don't see Barrick acquiring 51% for a nickel more. I can imagine the howls here. They currently own 10.9%
2. Do you think Oceana would sell out to Barrick for five cents more? They own 16.2%.
3. Do you think Toqueville will sell for a five cent payday? They own 9.7%.
4. There are 3 or more institutions (Davenport, 4.9%; Ingalls & Snyder, 1.4%) including Waterton for a small percent.
5. Originally there were a few dozen NUG millionaires, who owned more than a million shares each. I expect some or most are still here, and loyal to Albert.
6. Insiders own 16.6%, and the public about 40.3%.
7. There's quite a few on this board that own six or seven figure amounts. I can't speak for them, but I don't see a panic or stampede to sell.
8. I'm in low to mid six figures, and I'm accumulating again. I wouldn't sell to Barrick for a nickel. I doubt I'm alone. If my KL or Novo climb enough some could come over into NUG. - I wish I'd kept my Corvus.
So look at the above groups and tell me what strategy gets Barrick or anybody over 50%. When I spoke to James Anderson in February, he said there are many institutions watching closely. They are potential buyers, particularly on good news. I expect good news.
Someone tell me how it happens for a nickel. It is a fear, but it is way down the list.