Post by
JRafflesUK on Dec 05, 2020 7:26am
SP gives 30% discount on Mill purchase
SP gives 30% discount on Mill purchase
The mill was purchased with the issue of NVO shares at C$3.25.
Therefore, at today’s NVO SP of C$2.25, this gives a 30% discount on the mill purchase price to new shareholders.
Comment by
PeterThomas on Dec 05, 2020 11:23am
Let the Novo SP drop further so the mill costs even less ? Smart move by QH..
Comment by
JRafflesUK on Dec 05, 2020 1:45pm
Better than paying borrowed cash for the mill ...... just following what Makuch did by buying Detour when KL's SP was ~C$64. KL may have been unprepared to wait for all the Novo planned cash generators to come on stream. However, the new shaft at Macassa is a capital instensive project which will have taken 5 years to come to fruition.
Comment by
likeike on Dec 05, 2020 3:50pm
Boy you guys have really figuired that one out like a constipated mathmatician....with a pencil. They generated a lot more shares and debt with all the acquisitions and not to mention they like most stocks turn a little soft this time of year. IKE