RE:Newcrest price target raised to 29.50 AUDsailor8 wrote
We are all forced Newcrest share owners now. So it is interesting to read the headline from some hours ago:
Newcrest Mining Ltd. (NCM:AU) (NCMGY) PT Raised to AUD29.50 at Scotiabank
January 24, 2022 11:02 AM EST
Scotiabank analyst Tanya Jakusconek raised the ...
NCM.AU closed in Australia today at 25.18 AUD. Woukld mean there is some air open to higher prices for us. Never the less I am happy to have sold (short) in Australia already a good part of my NCM shares just some hours after the so called "voting" decision. The shorted NCM shares should come soon into my portfolio.
Assuming that the exchange for PVG shares will be the default 50 % cash and 50 % NCM shares it seems to me, that there may be still some interesting trading opportunities in PVG.
--------------------------------------------------------------------
"We are all forced Newcrest share owners now."
No one was forced to do anything. An offer was made by Newcrest and over 95% of PVG shareholders accepted the offer. If you didnt like it you could have sold your PVG shares anytime after the offer was made.
That is the way it works. If the required percentage of shareholders who all bought and payed for their shares of PVG agree to sell the company it is and was sold as they have every right to vote yes if they want to know matter what you think. If you wanted to control what PVG does you should have come up with $3.5 billion and taken it over yourself.
It is kind of sad to see the end of PVG as a stand alone company as they now have more cash than debt and are piling up cash along with huge exploration results. At the same time shareholders have approved the sale and for those who want exposure to PVG and all Newcrests other money making operations they can buy Newcrest shares.
One good thing with the takeover of PVG is we wont have to listen to this whiny board dictator anymore. " They sold Snowfield wah, wah, wah."