RE:RE:RE:CXB share priceInthepeg wrote: MOZ should be worth at least 4 times per oz what CXB is offering .
Manson has repeatedly arraged bought deal financing that strongly favor his group of institutional investors at the expense of existing retail investors.
This sale has no fixed price & Manson sold 66.6 million shares to CXB at .60 share 2 days after the offer was made public.
CXB shares should have increased in value acquiring a Canadian asset like MOZ that will be pouring gold in a little over a year.
CXB appears to be a decent producer with good cash flow.
The only reason for the share price decline that I can think of is market distrust of Manson. Until he is gone price will not rebound.
You think MOZ is worth about 2 x as much as Calibre? That seems excessive given that MOZ has neither money nor revenues. MOZ may be worth more, but no one stepped up with a better offer. Selling royalties to operate is a more palatable option for some investors, I guess, than combining 2 undervalued companies into a profitable entity with fully-funded projects.
As to Manson, investors were not deterred by him before CXB came along... Also, I think that blaming him when there were 2 independent analysts involved in the arrangement is unfair. Besides, investors will now have the quality CXB team at the helm.