RE:RE:RE:RE:RE:Trading of both GCM and GLDX haltedgcm+goldx is a lot cheaper than $1 billion for continental gold. if they offer $1 billion again they might get both. bid high enough and they could get it, just a question of price.
if they bid only for goldx, that runs into problem with others bidding for goldx too. their bid for guy ran up in price from other bidders, first with gcm and then svm. and gcm may hold out for a high price before voting yes for their large number of goldx shares. if gcm says no because they want to control goldx, then it would be extremely hard for the chinesse to buy goldx.
if they buy both gcm and goldx, that eliminates gcm as competing bidder and potential blocker, and gcm is currently very cheap so buyout with large premium is still under $1 billion for them. i would prefer 100% premium.
menoalittle wrote: sorta doubt that Zijin Mining would be that aggressive and buy out both companies... but if backstopped or prompted for one reason or another by the PBC, ICBC, and/or the Chinese government itself, who knows? Don't forget, it was Zijin that bought out Continental Gold for a billion dollars... and how much gold was Continetal producing at the time? Clearly Zijin said they were (and then acted on those words) going to be first big Chinese company in South America... and by one way or another, it appears they meant it!