Trelawney Mining and Exploration Inc TWNNF

BNN

[retiredcf]

Heard that the CEO of IMG will be on BNN at 11:15 to discuss this takeover.

[retiredcf]

In his opening remarks, he made an excellent case as to why TRR should be worth more. $100 million cash, safe jurisdiction, $80/oz cost for gold and a relatively modest premium being paid on the 20 day average price of TRR (when we know that the past month has sucked). Even more convinced that TRR shareholders should hold out for more. GLTA

[Mrrockstar]

paying $ 80 a ounce. That is dirt cheap. Just don't understand why TRR would sell this so cheap. There's got to be more bids coming in. When does this deal close.

[idlefreebird]

Yes , I seen the CEO also on BNN and he mentioned 12-18 months for permitting then will build the mill 2 years  , therefore 4 years from now will producing gold from Trelaney . Timmins area is picking up more to come . GLTAL they got a steal here .

[Mrrockstar]

BNN figure that is it. No more offers!!!! That sucks!!!!!

[edmed]

I hate to tell you but they are getting the company for a lot less than $80 an ounce. That does not include the 90 million in the bank It is also $80 based on the 7 million ounces resource estimate. That 7 mil is OLD news. The actual resource has not been updated due to the lack of reporting of the winters drill results....this is still to be released. If the expected drill results are as good as

[Andrew12p]

Well arent they still obliged to release results until any deal is closed? This whole takover thing is new to me  so im not sure what normal procedure is. Why would managment agree to this before releasing results? Would img have access to these result before being released? Wuldnt that be illegal? Very frustrating! I bought in at $3.90

[MrBigger]

Vote it down, this is a BS offer. Who's behind the massive price declines in the junior gold sector this past 52 weeks??

[VentureTrader1]

Yes, really pathetic.  Mgmt really let shareholders down accepting this offer.