Monday and The Doctor is In
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Will this summer’s markets be in the doldrums? Doc seems to think so.
Teranga Gold Announces Agreement to Acquire Gryphon Minerals in All Share Transaction
Jun 19, 2016
The acquisition will be effected by way of a scheme of arrangement under the Australian Corporations Act 2001pursuant to which Teranga will acquire the entire issued share capital of Gryphon. Under the Arrangement, each share of Gryphon will be exchanged for 0.169of: a CHESS Depositary Interest of Teranga , which trades on the Australian Securities Exchange or, if elected, a common share of Teranga…”
Scorpio Gold Reports Final Results from Exploration Drilling on the Missouri and Brodie Deposit Areas, Mineral Ridge Project, Nevada
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 20, 2016)
I’m disappointed in GRY for agreeing to sell out to TGZ at that price.
I won’t be voting for it.
I have rather large % holdings of both companies in my PF at present,
If the sale does go through, then I will have to trim off some exposure to TGZ as otherwise they would become way too large a % of my PF.
Like I said previously, I’m not real happy about the situation or the money offered by TGZ at the present moment.
Cheers.
Thanks Skeeta. I had written to you on the weekend show about Gryphon Minerals because I knew we had discussed this stock a few times in the past. I later went back and saw where you had also posted about this on the weekend show.
I only have a small position in Gryphon with the OTC (GPHYF), because I figured that with all the action in W. Africa Gold mining lately, that they would get taken out. I didn’t expect it to happen this soon, but Burkina Faso is having a boom.
* I’m actually happy that it is Teranga Gold that is acquiring them, because they are a good little mining company and I feel very comfortable with them at the helm.
I’ll likely just let my shares get converted over to Teranga and ride that vehicle up into a recovering metals price. Yes, if you own both, then you can always trim some of the position back post merger and find another home for those profits. (luckily there are no shortage of PM mining stocks 😉 )
Personally I’m very happy with the share appreciation today and will take the win.
Gryphon Minerals Ltd. (GPHYF)
0.1339 Up 0.0339(33.86%) 1:54PM EDT
Cheers buddy!
I’m also going to look for opportunities to add if an arbitrage shows up between the Gryphon and Teranga shares, as often happens right after a takeover is announced.
Its not that I’m unhappy making a bit of money, I just think they are letting it go at both the wrong time & for the wrong price.
If the sale does go through at the offer price? then I will make a little shy of 120% from my average in share price.
I think they are letting it go too cheaply !!
Cheers.
IVPAF had long been recommended by Rick Rule for all 3 of its major projects.
Absolutely. Robert Friedland is a good friend and mentor of Rick Rule, and I’ve posted a number of the audio and video interviews of Rick discussion Ivanhoe this year. After digging into their projects, the grade is insanely high for their Copper/Gold, PGM/Nickel, and their Zinc/Copper projects.
These drill results released from Kamoa reinforce the trend.
I’m a shareholder for the longer term with this company, and it is one of the few companies with assets in S. Africa and also the Congo that would invest in. As I’ve mentioned a number of times, I am primarily only interested in W. African Gold miners, but I made the exception with Ivanhoe based on their progress in developing their PGM property, the grade in all 3 assets, and the solid management team with a track record of success.
I’m pretty sure Ivanhoe will get a nice plug at the upcoming Sprott Investment conference as well, since Robert is one of the “Living Legends” that will be one of the keynote speakers.
http://www.zerohedge.com/news/2016-06-20/72-killed-resisting-gun-confiscation-boston
and the world would be a different place!
Folks, how do you about the totally propagandarized transcript of the Orlando tapes, wherein it has been de-Islamicized.
I.e. The word allah is replaced by god
Wherein much of the terrorist rhetoric is removed
I believe this was done at the request of the Marxist islamic-believer who calls himself president.
Stick to precious metals.
Meanwhile ……
While gold declined, unnoticed by most, Pt was up $21 and Pd was up $17.
Good point – the PGMs had a nice move today.
Ivanhoe Mines: Exceptional Grades and Widths of Mineralization Confirmed by Initial Assay Results From Expanded Drilling Program Kakula Discovery on the Kamoa Copper Project
http://www.juniorminingnetwork.com/junior-miner-news/press-releases/397-tsx/ivn/21248-ivanhoe-mines-exceptional-grades-and-widths-of-mineralization-confirmed-by-initial-assay-results-from-expanded-drilling-program-kakula-discovery-on-the-kamoa-copper-project.html