RE:RE:RE:RE:Issued this yearOn a crabby sarcastic note, OMG , Google is splitting 20:1, how many billion shares is that? Better sell. And CIBC is splitting!! Aahhggghhh! Or NO NO NO , BMO just announced a financing!!!! A bought deal for $2.7 Billion ! With a 15% overallotment option !!!!! What fresh hell is this. I better sell them all !
Maxmoe wrote: As I said, I bought SBB with the idea there will be no bid, but a beautiful gold mine. If a bid comes sooner , fine by me, but it will now HAVE to be higher than it was a year ago because the asset is so much more valuable. The shares outstanding issue is a red herring. Or using current vernacular, a false flag. Or as gramma says BS. At 370 million there is no mine, no construction can start for probably another year, they still need to raise $286,750,000 using your numbers. I don't think we are in the same chapter, or book, never mind page. Will flippers be disappointed? Probably. I just ignore them and their trading for nickels and dimes. I'm looking for a 2 or 3 bagger, and I'm patient. Clearly Bruce is not a flipper. But that's why I invested. Good luck with your next flipping speculation. I have a few of those as well. Yes, the martians missed their chance to scoop sbb with an opportunistic bid. In hindsight. They also didn't bid when the stock was $3 and look at how much more valuable sbb is now. So off they go to Pakistan.
templetooth2 wrote:
Madmax, relax. We are basically on much the same page. Whether the $500 million in capital (or thereabouts) is raised by one party or another, it still needs raising. Actually, I congratulate the folks at Sabina for being able to raise the $ at $1.55 rather than the $1.30 I expected. They had a little help from the bullion price, but still, credit is due.
My point is that IF the Martians were to come out of the woodwork and launch a takeover bid, they would have done so last year or January this year, BEFORE the issuance of some 185 million new shares. As a business deal, it simply makes more sense to deal with 370 million shares rather than 554 million shares.
I usually only scan the headlines here, but even at that, it's annoying to see 3 or more times daily how Barrick is just finishing up their due diligence, or other such nonsense.
My personal opinion is that Barrick and possibly others put out feelers to Sabina about a deal and were probably given such a high price tag that they walked. I think you've got a case of entrenched and entitled management here. Just my opinion. In any event, I'll be turning my attention elsewhere as the game here is now well and truly over. You are about to witness the Lalonde curve hibernation. Good Luck.