Post by
tony1969 on Jun 16, 2012 10:45am
Teranga/capital raise...
Hey caliche. I agree that the action in Tgz is suspicious to say the least. It could easily be a capital raise but if it is for lets say $200 million or so it will also come with more news. A company with a now less than $500 million market cap cannot just say that it is for future m&a. Plus they just upgraded their mill so it is not for that either. They would need to be specific to satisfy their shareholders. I noticed that Tgz had been going down even before yesterday. Next week should be interesting.>
Comment by
tony1969 on Jun 16, 2012 10:55am
Teranga is down almost 25% since the beginning of the month. From $2.20 to $1.70 yesterday. In a semi recovering junior market and with gold trending higher this does not make sense at all. I say that either they do a cheap private placement or announce some kind of credit line or financing agreement in the near future.>