Hello James;
What would have been fair for Barrick to open their bid at, the Lundins turned away $6.75, now some say that they will accept much higher, in order to get it higher we need another courtship to be announced??
Buffalo Bill??.............I think they started their bid @ $27.00/sh, a very different set of cicumstances prevailed at the time.....As I have mentioned and alluded to, it was shortly after all of these high priced takeovers that some CEO's were interviewed and vowed that it would never happen again.
And it is those interviews that are staying in my mind, sorry for sounding negative, but it is a simple observation to this very interesting play.
On record I think it is a low ball offer that sucks for shareholders of ARP, but where is the WHITE KNIGHT, that will force the hands to be shown??
They can drill until the cows come home, and prove up five times as much gold, but if the offer remains the only one, that will be the one that the market will bare??
We are dealing now with a POG market that is being manipulated into a $280-300 range. There are not very many mines being opened in this price range, all of these factors have to be weighed in by any new potential suitor??
Just as shareholders say they will sit on their shares, so as can be said of this deposit in the eyes of Barrick, and any suitor knows this, who can last the longest, a few shareholders or Barrick??
With regards,Frank |
