Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL -- Ignore unavailable to you. Want to Upgrade?

To: onepath who wrote (4411)	10/25/2011 10:37:00 PM
From: DrBill	1 Recommendation Respond to of 4690

VALUE OF SEM/CRJ DEAL _____________________________________________________ They come up with 15.8 cents based on todays closing---no value to stub assets. From Winnipeg Free Press Online Edition tonight; follows: SASKATOON - Claude Resources Inc. (TSX: CRJ) is moving to increase its ownership in St. Eugene Mining Corp. (TSXV:SEM) to 100 per cent in return for shares of Claude and stock in a new company that will own the Tartan Lake gold project. Based a closing stock price of $2 on Tuesday, Claude's offer of 0.0789 of a share per St. Eugene share it doesn't already own would be worth about 15.8 cents per share — not counting the shares of Spinco they will also receive. That valued St. Eugene's outstanding common shares about 4.3 cents above the closing market price of 11.5 cents before the deal was announced by both companies Tuesday evening, a premium of 37 per cent. St. Eugene will also receive 0.25 of a common share of the new company, although no estimated value of that equity was provided. The takeover offer, which has the support of St. Eugene's board of directors, values the company at about $19 million including the portion already owned by Claude and the Spinco shares. Claude announced in July that it was making advances to St. Eugene in order to consolidate ownership of the Amisk gold project in Saskatchewan. At the time, Claude owned 65 per cent of the Amisk joint venture and was St. Eugene's largest shareholder.