Sean K
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480m on issue at $7.32 = $3.5b / 2.5m ounces = $1400 an ounce.
I think I need to give away my Oz Au to MC ratio for any fundamental comparisons....
AND - Andean Resources
- Thread starter guycharles
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I think I need to give away my Oz Au to MC ratio for any fundamental comparisons....
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cant wait to see what happens today on asx.. however this is one of my biggest disappointments.. I cant believe I lost faith from negative sentiment AND really has been a star performer
Sean K
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I wonder who was lucky enough to be privy of the TO so early?
18 August...
Andean to answer disclosure delay
Barry Fitzgerald
September 7, 2010
ANDEAN Resources will today respond to criticism that disclosure was not at its best before and during last Friday's receipt of two takeover bids for the company from Canadian gold producers.
The company is expected to blame the big time differences between Australia and Canada and the decision by the first bidder - and current underbidder - Vancouver-based Eldorado Gold, to keep Andean in the dark when it launched its $C3.4 billion ($A3.5 billion) scrip offer.
Eldorado's offer was later topped by a $C3.6 billion friendly bid from another Vancouver-based gold company, Goldcorp. However, after the initial offer from Eldorado hit the news wires, a brief time passed before it made it to the ASX's company announcements platform.
As a result, there was some trade in Andean shares at prices well below the imputed value of the scrip offer from Eldorado. Andean went into a trading halt later on Friday, pending the announcement of the friendly scrip-cash offer from Goldcorp.
Andean will also explain why it did not say more in response to an August 30 query from the ASX on its rising share price. Eldorado has since revealed that it had put a proposal to Andean Resources on August 18, which was informally rejected on August 30.
The ASX has queried Andean twice in the past month (August 13 and August 30) on its rising share price. On both occasions Andean pointed to general upwards movements in gold equities without - at least in the August 30 response - mentioning the interest from Eldorado.
18 August...
Andean to answer disclosure delay
Barry Fitzgerald
September 7, 2010
ANDEAN Resources will today respond to criticism that disclosure was not at its best before and during last Friday's receipt of two takeover bids for the company from Canadian gold producers.
The company is expected to blame the big time differences between Australia and Canada and the decision by the first bidder - and current underbidder - Vancouver-based Eldorado Gold, to keep Andean in the dark when it launched its $C3.4 billion ($A3.5 billion) scrip offer.
Eldorado's offer was later topped by a $C3.6 billion friendly bid from another Vancouver-based gold company, Goldcorp. However, after the initial offer from Eldorado hit the news wires, a brief time passed before it made it to the ASX's company announcements platform.
As a result, there was some trade in Andean shares at prices well below the imputed value of the scrip offer from Eldorado. Andean went into a trading halt later on Friday, pending the announcement of the friendly scrip-cash offer from Goldcorp.
Andean will also explain why it did not say more in response to an August 30 query from the ASX on its rising share price. Eldorado has since revealed that it had put a proposal to Andean Resources on August 18, which was informally rejected on August 30.
The ASX has queried Andean twice in the past month (August 13 and August 30) on its rising share price. On both occasions Andean pointed to general upwards movements in gold equities without - at least in the August 30 response - mentioning the interest from Eldorado.
I wonder who was lucky enough to be privy of the TO so early?
18 August...
Yes, don't you just love when this sort of thing happens.
Especially if you sold just before takeover, only to realise that the market was not well informed. Plenty seemed to know about it though.
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Was out on Bloomberg news 10:17am, and DJ newswires 10:20am (DJ newswire usually comes through iress)
So a few lucky ones got in!
So a few lucky ones got in!
Logique
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Check the ASX anns.
Eldorado have bailed. Takeover offer withdrawn. They supplied a rationale, which I'll have to re-read to fully understand..
Eldorado have bailed. Takeover offer withdrawn. They supplied a rationale, which I'll have to re-read to fully understand..
Sold down below the offer last night, I'm guessing that was hot money on the way out as El Dorado with drew its offer. So far I can't see it in our market depth, all things being equal I guess we should be trading around the $6.80 mark by close. LOL that is unless there is another suitor we don't know about.... yet.
Fun, fun, fun....
This is treasury auction week, IF all things go as normal gold should be muted to down along with the HUI. GG was down and took AND with it... but gold she had other ideas. I think that after this week we should see what is what...
Go GG!
I wonder if we will get ASX CDI's for trading GG? or have I missed summin? Do we get the 0.14 GG offer or is it just the CND $6.50?
Fun, fun, fun....
This is treasury auction week, IF all things go as normal gold should be muted to down along with the HUI. GG was down and took AND with it... but gold she had other ideas. I think that after this week we should see what is what...
Go GG!
I wonder if we will get ASX CDI's for trading GG? or have I missed summin? Do we get the 0.14 GG offer or is it just the CND $6.50?
They say their offer is fully priced and that any bidding war would be a value destroyer for their share holders. They also say that this deal only really suits the majority holder!
Now... is it a gambit or are they playing with a square bat?
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Sold down below the offer last night, I'm guessing that was hot money on the way out as El Dorado with drew its offer. So far I can't see it in our market depth, all things being equal I guess we should be trading around the $6.80 mark by close. LOL that is unless there is another suitor we don't know about.... yet.
Fun, fun, fun....
This is treasury auction week, IF all things go as normal gold should be muted to down along with the HUI. GG was down and took AND with it... but gold she had other ideas. I think that after this week we should see what is what...
Go GG!
I wonder if we will get ASX CDI's for trading GG? or have I missed summin? Do we get the 0.14 GG offer or is it just the CND $6.50?
The Cash component 6.50CAD is Max $1 bil, AND mkt cap is $3.6 bil
0.14 Goldcorp is around 6.50 AUD
So ppl factoring in not enough cash to go around probably.
Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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Aguia Resources AGR, now chaired by Warwick Grigor, is attempting to sew up its acquisition of Andean Mining.
Andean has also reported strong drill results at its Atocha and El Dovio precious metals and copper projects.
A best hit of 20.14g/t Au and 723g/t silver over 0.8m has been struck at Atocha, while one of 34 drill intercepts at El Dovio contains 5.8m at 8.14g/t Au, 6.92% Cu, 39.41g/t Ag and 1.46% zinc.
That makes it a target for potential high grade volcanogenic massive sulphide copper mineralisation.
So far Aguia has taken its voting power in Andean to 46.14%, bolstering investors’ hopes the off-market deal will get done
Andean has also reported strong drill results at its Atocha and El Dovio precious metals and copper projects.
A best hit of 20.14g/t Au and 723g/t silver over 0.8m has been struck at Atocha, while one of 34 drill intercepts at El Dovio contains 5.8m at 8.14g/t Au, 6.92% Cu, 39.41g/t Ag and 1.46% zinc.
That makes it a target for potential high grade volcanogenic massive sulphide copper mineralisation.
So far Aguia has taken its voting power in Andean to 46.14%, bolstering investors’ hopes the off-market deal will get done
