SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Pangea Goldfields T.PGD
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Enigma who wrote (1117)7/1/2000 8:22:22 PM
From: Enigma  Read Replies (1) of 1178
 
Edit

Headline writers and other matters:

'BARRICK GOLD TO GRAB PANGEA' - National Post July 1, 2000

Well one guy got it right - unwittingly no doubt - unless he happens to be a Pangea retail shareholder!

A few more thoughts:

1. This was never a retail play - compare the number of postings on this thread to PFG for example.

2. It was an institutional play - largely I guess because Potvin was a respected mining analyst - an analyst's analyst. The stock was followed by at least 8 brokers - and in the last year they have come up with target takeover prices from just above $5 to over $8. So they look good now recommending the Barrick bid of $7.00

3. The trading pattern yesterday was very strange.

4. I was very curious about the wording of the News Release which spoke of discussions with a third party concerning 'an arms length transaction' Even if one ignores the trading pattern yesterday, Barrick may be technically at arms length - but is it not, de facto, an insider, and therefore in a postion to apply enormous pressure - the iron hand in the velvet glove? So was this wording injected to deflect criticism or as a smokescreen? Why was it included at all? And at whose insistence?

5. Someone else should make a bid and disturb this cosy scenario. A level playing field. The values are there. And there is a lot more to come.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News