New Year's WishVancouver (Rueters Jan 14)
W.Coles, chair of Skeena Resources, today announced a takeover offer for a larger rival, Centerra Gold. Mr. Coles urged the shareholders of Centerra to accept the offer of 1.25 shares of Skeena for each share of Centerra. According to Coles, 'This offer represents an immediate premium of 25% for Centerra shareholders, and allows them exposure to the exciting development potential of Skeena's Eskay Creek project.'
'The combined company would allow Centerra shareholders to return to the coveted million ounce per year status once Eskay Creek starts producing. Skeena shareholders would benefit from Centerra's cash pile which would mostly be used to fund Eskay construction'.
Mr. Randy Reichert, CEO of Skeena commented, 'These poor suckers (Centerra shareholders) have been wandering the investment desert for some years. By combining with a company with proven management and a project that can commmand investor interest, they will finally have an opportunity to enjoy some investment rewards.'
Rueters was unable to contact executive level response from Centerra. The company receptionist explained that the company's entire management team was doing due diligence at a mushroom farm they were interested in acquiring.