RE:The larger buying of CXB indicate ???
stockwatcher7 wrote: I think there seams to be a push to move CXB up refelective a better value for the MOZ holder?
Even so MOZ is still following CXB a few steps behind in value....
What would happen if an entity took a run at CXB to aquire the lot.... Then the 66 million shares they bought dont come into play? They would simply be washed out in the consolidation ?
That would make things interesting..... On the condition some larger gamefish sees CXB/MOZ as undervalued.
Our value on the transaction is $345 M, the $40 M private placement is basically an upfront payment, once the current transaction is complete the $345 M worth of shares is converted, the $40M worth are VOIDED... Calibre basically just put $40 M aside to re-collect later, it cost them nothing, but it costs an outside offer a sizable chunk.
For an outside offer, just to match, the surface value is now $385 M, realistically you would have to see an offer that exceeds Calibre's abilities as any further offer they get a discount on with the right to match. Say Barrick comes in and offers $1.25/share, it would cost them about $597 million but it would only cost Calibre $513 million to match that offer...
Taking a run at CXB is a similar propsition with B2Gold holding the discount position, but obviously they don't have a right to match provision until they make a deal, but thier cost to match is still discounted off the start.