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Strategies & Market Trends : The Ego Forum
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To: hubris33 who wrote (11901)3/5/2013 8:46:55 PM
From: hubris331 Recommendation  Read Replies (1) of 12175
 
OK, I get it now.... Alamos Gold has Ken Stowe on the BOD. Stowe was the Prez & CEO of Northgate Minerals (NXG) at the time that Northgate tried to take over AZK several years ago. Northgate needed cash flow to tide themselves over between the winding down of one mine [Kemess] and the start-up of another [Young-Davidson]. [Apparently, NXG has pizzed off the environmentalists and First nations types with their heavy handed approach toward Kemes North plans and that got shot down/rejected.]

But the AZK boyz fought Stowe off and stayed independent. [That defense and the NG defense of ABX's takeover were the highlights of that period!] This takeover rejection was a major set back to Northgate, who struggled from that point on to keep their ship afloat and regain the luster. Northgate ended up buying some sub-marginal properties in Australia [Fosterville and Stawell] to tide them over - provided cash-flow gap-fill to get them to YD production. But alas, as YD neared production NXG was acquired by Aurico Gold. As soon as Aurico Gold bought out Northgate, AUQ jettisoned those two high cost mines to Bharti's Crocodile Gold. AUQ kept YD and the plans for Kemes.

So it would appear as if Ken Stowe still has a h@rd-on for AZK, and after failing once to take it over is now back with an axe to grind. What a way to live your life, grudges and all. Now I'm doubly against AGI and this temper tantrum.
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