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Strategies & Market Trends : The Ego Forum
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From: hubris336/12/2014 9:06:33 PM
   of 12175
 
Elgin Mining Bites the Dust! .......... Bought Out! ........................ ............................. ...................

OK, so one of the 13 for 13 list, little tinker toy miner, Elgin Mining got bought out last week.

Share price was 37-cents cash a premium of 53% over 20-day volume weighted average.

For those keeping track, this would lock in a loss of -44.8% from Jan 15, 2014 when the list was published. That versus the GDXJ [Market Vectors Jr Gold Miners] which was at 33.53 on the day of the offer representing a loss for the GDXJ of 59.0% for the same time period. Oh and if one wanted to look at it that way, ELG was a 9 to 14-cents stock for the last quarter of last year. Anyone who bought there or after the first of the year as a nice double or triple+ bagger.

But of course one could choose to let their investment "roll" by taking the o.4111 shares of Mandalay and seeing how it performs. I have not yet done any DD on the acquirer to form an opinion.

Certainly if MND has funds and the gumption, there are expansion possibilities and favorable geology at the Björkdal mine. Ramp up would increase cash flow. The real prize is the old mining property in the tundra in Canada, but it is going to take quite a few bucks to revive that one. Need to take a look at MND operations, geology, cash flow and management!
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