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Gold/Mining/Energy : Century Mining Corporation
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To: FreedomForAll who wrote (474)11/29/2007 7:41:33 PM
From: hubris33   of 545
 
Interesting perspective.

From what I have been reading, it looks like Sulliden is between a rock and a hard place. The recent court rulings don't appear to be going their way and their cash situation is questionable. Also I read that NR CMM put out and it looks like it might take another several years to resolve all of the legal matters in Peru.

The choice appears to be between the lesser of two evils. Take a chance that CMM can develop the Shahuindo property into a mine, or stay with the current Sulliden management and several more years of litigation in Peru against a now cashed up Algamarca foe.

Some suggest that if CMM pulled its offer that SUE would drop to 5 to 10 cents. Apparently this deal has shed some light on the legal proceedings that shareholders don't see as favorable. The speculation I've seen suggests that the precipitous drop in SUE share price just before the offer was a result of the perception of a deteriorating legal position.

But I remember the UXG takeover of WKR.v, NPG.v & TNS.v. By the time that deal got off the ground the share prices had shifted but the offer went off based on the original basis.

Interestingly in the background of the offer, it looks like the failed negotiations for a business combination were in the range of 0.80 to 1.00 shares of CMM. Funny that PK offered 0.72 when she had to go the tough route.

The machinations on this deal may not be over yet. Let's see what fireworks Sulliden management comes up with.

H3
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