DoubleD, He may have sold some of HIS shares, but they would not have been treasury shares, so it still adds 2 million more shares to the share cap for Barrick to have to contend with, and $10,500,000 more in the treasury. He may not be any the richer for it, just yet, but the treasury certainly is. Gives them more money, and perhaps they will add even more drills, so they can increase the pace even more.
One thing is for sure... there are lots of drills and drillers around right now, so they don't have to worry about that if they decide to really pour it on. Hard to say how this will all play out. The results are certainly there with each set of new drill results, and does add relentlessly to the pot. All I can say is that Barrick is a hell of a poker player. If they REALLY want this property and they can sit there watching it build, and wondering if someone else will come in and top them...they are pretty cool cats. One thing that may be making them feel a little easier is the fact that majors usually don't like being partners with another major, although it does happen occasionally. It'll be interesting to see who ends up with it in the final analysis, and how much they pay for it.
Cheers
Shirley |
