RE:RE:RE:RE:What,s wrong with ???Here is the email I sent:
I am a minority shareholder in QMX Gold Corp. Recently the Board of QMX agreed to be acquired by Eldorado Gold. I have included the announcement.
I feel that the minority shareholders are being unfairly treated by the offer. QMX announced prior to the acquisition that it had increased inferred and indicated gold reserves at its Bonnefond location. As well, they announced in mid January that they were going to commence a 35,000 foot drilling program.
Yet a few days later they announce that they will be acquired by Eldorado at a premium that does not reflect its previous announcements, nor the value of the company.
As well, QMX agreed to a costly breakup fee if the deal does not proceed. QMX has to pay 6.6 million to Eldorado. This cost seems very high given QMX is a small company.
Eldorado owns 17% of QMX - which leads me to believe that they can influence the BOD of QMX. As well, the QMX property is adjacent to an Eldorado property.
As a minority shareholder, even if we vote against it - there are not enough shareholders to be able to vote against this proceeding of this deal.
When I invested in QMX - I felt that with the Drilling program and earlier announced results that the company would be worth more than what was offered. In fact, at one point QMX announced very good results and the stock price climbed to about 30 cents on the news alone.
I am not sure what rights I have as a minority shareholder. In my view this is fraud by both the QMX BOD and Eldorado.
I include the announcement: