RE:More Neighborhood NewsWould I prefer $90 million U.S. dollars, or $117 million Canadian? Ha! Neither! Thank you.
Here we collectively sit on a company with a market value around US$50 million. It is a scary thought that Northern Empire, with a fully permitted, past producing resource of 709,000 oz at 2.3g/t, went for only about twice our valuation. I am not familiar with Northern Empire.
Could that happen to NUG? Of course! I don't know what happens behind the curtain, but it isn't encouraging that Barrick has not jumped at the chance to provide working capital via the private placement. Do they hope to starve NUG and buy us cheap? I have no idea, but one wonders.
I repeat, I have no idea.
But, I sure give thanks that several players are at the table, hopefully to keep things honest.
- Oceana 16.2%
- Barrick 10.9%
- Tocqueville 9.7%
- Davenport 4.9%
- Ingalls & Snyder 1.4%
- Europe Fund ~1%
- Public ~40.2%
- Principals ~17%
For Barrick or anyone to attempt control, they'd probably need to own 40% and be approaching 50%. That is an increase of 30-40%. Look down the list above and try to identify where they or anyone would acquire the shares needed. It looks like a tough order. I hope so.
What do you think?