RE:Now we knowWhy not buy-back a tonne of shares, increase the dividend, and roast the short crowd?
templetooth2 wrote:
From the Denver gold show, Bill Lytle, Sr.V.P. operations was interviewed by Ovais Habib, analyst at Scotia. Habib noted $380 million cash at Q2 end. Late in the show, Bill ventured cash at $500 m.
Maybe he's thinking down the road a short way. Plus over $600 million ($650 million ???) line of credit. Anyway, he let the cat out of the bag: they are looking at potential acquisitions.
Previous poster ventured that Oceana would make a good target. Whether that thought was hers or from Ronald Stewart, I don't know or care. Oceana has about 3/4 billion shares outstanding, so if it took $3 Cdn to swing a deal, that's about $2.25 BILLION Cdn. With B2 having a market cap of $5.1 Billion $Cdn, ignoring cash, I can't see CJ giving away that much of his baby, especially for damaged goods.
Yes, they both have ops in the Phillipines, so maybe a deal for Oceana's Didipo is possible.
But consider Vista. If they could acquire for $200 million or so, then spend the (gulp!) $800 million capex, they would have another 500,000 annual ounces.
Pretty picture, no?