Nice deal for SD GoldIn May SD Gold bids $1.75 per share for TMAC. When the second quarter numbers to June 30 are released, the Company has recorded an additional $16 million in net income and $22 million in positive cash flow, all of which will accrue to SD Gold and not teh current shareholders. With the delays in approval and the continued high spot price for gold, the third quarter results will likely add the same the same numbers to SD Golds accumulating value.
Frankly, if this continues, the Company would be better to let February 2021 roll around without the deal being consumated and to let it expire without any break fee penalties. Then put it up for sale again and see what the new market realities bring to the table. SD Gold was prepared to pay $2 to $3 in early 2021 pre Covid 19 impact on the stock price, likely a Canadian based offer would readily match or exceed the $1.75 already approved by shareholders, just not yet the Canadian givernment for "security" reasons. I assume this means that Canada will allow China to bring a 10,000 man division of its special forces disguised as underground mining experts so they can start their invasion of Canada's arctic lands in Hope Bay, or interfer with commercial shipping in the newly opened arctic water ways.
Please read the fine print of the security review section of the revised legislation and
tell me where there are any statutory security concerns anywhere in the SD Gold deal?