OTCQX:LMCNF - Post by User
Comment by
templetooth2on Aug 27, 2019 2:25pm
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Post# 30071198
RE:question for the board
RE:question for the board
No. Yamana owns 58.1 million shares, 20.4% of shares outstanding, owned since May, 2018 on Brio takeover.
Goldcorp (now Newmont Goldcorp) owns 34.6 million shares, 12.2% of o/s shares, owned since Apr, 2017 on acquisition of Los Filos property.
Of the two, I would expect the Newmont shares to hit the market first, but I'm only guessing. Could be that some investment dealer puts together a secondary offering that takes out both holdings. One would realistically expect both holders would prefer the cash to holding minority stakes in LMC but will only be able to see the money when the Au mkt is frothy enough to absorb 92 million shares.
I'm not sure the cost basis of these shares ( or better put, at what value the shares are being carried on the books ) but as we get into the $3 neighbourhood, we're probably getting close to breakeven, thus improving the incentive to sell. I'll check on that later, perhaps someone else could look it up before me.