Hello Claude/Ray;
Good points by both of you gentleman??
I don't agree with you Ray on thinking that Claude is working or representing any one company, he is stating his opinion on what was known when the ABX offer was first made.
The other day someone made the same inference to me which I found to be hillarious, I have just tried to present as many facets to this situation that could have a bearing on the final outcome. Last week we were hearing too many references to the Arequipa buyout, and both of you well know that we exist in a far different environment.
I feel the same, even now as we hear of better results, ABX has increased their offer, and what appears to us as a low ball stink bid, they are acting responsibly to their shareholders, and we cannot lose sight of this fact.
As in real estate Ray, you have to act on behalf of your client, even if it appears you are trying to rip off the other party??
As a comparison note, we have Greystar Res, sitting an a resource of over 4m oz's, and it is felt that they will prove up quite a bit more, in fact the word is probably up to 10m oz's........they presently trade at under $1.00/sh. Kinross Gold has a 20% equity interest in Greystar and are monitoring developments??
This is not a plug, just an comparitive example of where the markets are in retrospect??
My thoughts as to no competing bid stems purely from the fact that a compaeter knows full well that because of the location, it will be to ABX's advantage to any competing bid. This singular and simplistic thought may be why their is no competing offer.
Almost as if, why bother when we don't stand an economical chance in this bidding game??
It is of my opinion that if this concession was much further away from Pasqua we would already have entertained a competing bid??
And Ray you know my private thoughts??......still wieghs heavy in mu mind??
Keep up the great work gentleman, I enjoy reading both of your posts??
With regards,Frank |
