RE:RE :RE:RE:RE: Help me out herefirewitch wrote: Why didnt Newmont just get rid of the whole lot ? Was it just a rebalancing act between the main players ? Are Newmont that stupid to walk away from having a larger stake at the table ? They obviously still wanted to play .
PS. TT . Very disappointed QH had nothing to say about your missing salt shaker . Dont believe you only dreamt it ! Perception... Use it or lose it .
Fire,
Newmont did not WANT to sell those shares to KL. They were forced to sell to KL because KL already had
a right to purchase said shares from Newmont, should the Novo price go above a certain level. If my memory serves correctly it was $1.60 a share. Novo share price went above $1.60 (if I also remember, it was a lot higher than $1.60 when the transaction was completed! Does $4 ring a bell to anyone?). KL exercized their option on the shares, and Newmont was SOL. Contracturally they had to sell! Just keeping the unoptionable remaining 5% is an indicator that they did NOT WANT to sell those shares, the transaction price was another indicator. They sold to KL at a price of $1.60 when the underlying stock was selling for $4! (my figures might be off but you get the idea...oldheimers disease!)
Icarus
My guess is that someone at Newmont got fired over that HUGE error!!!