fsmi and frieberg made this deal, the spinoff company funded with 10mill from coeur for sleeper and spring valley are both in nevada and sleeper is heap leach with a tailings component ,just like coeurs rochestor mine-the corporate strategy is to build value,partner ,jv or sell -frieberg and fsmi have controlling interest in seabridge and now have shares in coeur that they feel will outperform pzg as explorer-i believe the hidden value is in paramount spinoff -sleeper has in M+I over 3 million oz gold but it needs more drilling and higher metals and who better than coeur in nevada for a large bulk tonnage heap leach as a partner --just look how they brought rochestor mine back to 20yr mine life--
PZG and CDE are going up up up. Why would you sell now? Europe is going to shoot the bailout cannon in the next week and gold will jump again, and you still have those poor souls in oil rotating to gold and silver for safety. But #$%$ do I know.
What did P.T. Barnum once famously say about a sucker being born every minute? Go ahead and let them sell their shares at low prices - more available for the true investors.
Sentiment: Strong Buy
Its not locked below a dollar its locked at .2016 x the price of CDE. As CDE goes up the the value of the .2016 goes up and the price of PZG goes up. I don't recommend trying to game the math... the computer algorithms will keep it in lock step to the CDE price.
I don't know what I am going to do with spinco yet, but I will hold CDE into the next cycle. I also own AUQ which I am very happy with. Best of luck to all.
I do not understand how PZG bounces to $1.25 when a conversion per share has been established but the conversation date has not. A simple question I know - however at the end of the day - is our PZG share not in concrete at the agreed purchase price below $1? For PZG longs long frozen at a little past $2. per - would our only hope for fresh air and a chance be for the other company stock come down meaning the locked price on PZG goes a little more distance down the road? I am having a tough time understanding the variables here - which could result in a giant hammer falling on those positioned like me - or a possible way out before we become old men. I could sell 100K plus shares and put the money in other areas that might make it back faster however something tells me not to do so - however I am unable to figure out why exactly. Part is the new company - where there is no value known, the 2nd is if they locked us below $1 - why is it moving up - and what if anything could it possibly matter? Your thoughts appreciated.
First Spinco is generic name for the agreement. Second, PZG pps will track CDE at .2016 the daily value of CDE pps or very close to it. Third, it is pure speculation at this point on the value of the "Spinco" stocks and how many shares will be issued. Don't be surprised to see "reverse split of PZG stock" on issue of Spinco.to get the Spinco pps up. Remember, PZG made most of their property purchases with small amount of cash and balance with stock. You will probably see that again, therefore, the reason for the "reverse split". JMHO
Please share your math. I hold a ton of PZG and have not been able to glean any clarity on where it will need to go once purchased by CDE. Fog is spin off stock value. I just do not get it - but would like to wrap my mind around it. No clue as to why PZG is jumping to near $1.25 when in weeks it goes away at .90 or close. How do you factor in everything including the new co - in order to come up with $12.50? Thanks -
I can't wrap my mind around how PZG continues up - as high as $1.24 and yet in weeks this deal is scheduled to close. In other situations I have always been able to calculate where I would be (if) something happened but this has me confounded on what we will receive after I think we are locked in at low .90 per share so that purchases x number of new shares in C. However are we also to receive (SpinCo) what a name... stock? If so - is it impossible to determine if this is locked down at Z - or is it still fluid. Amazed that PZG has gone up for so long. Don't get it - as the ultimate highest value of this stock is the lock in price correct? Would people be playing the stock - riding the rise and fall knowing that in Feb the value is what they said it would be - meaning much lower than it is now. This one has me. Even with 100K shares I will not bail. I have to think that when yellow finishes this cycle - it will go up - and miners will follow and that the new company will stand a better chance of making up some of the difference in my loss.
we need to see the details but who calls a spinoff spinco? they are giving the new company 10 million in start up money. I don't know what all the fuss is with these lawyers its been good for the stock.
7 year r mine life, all in sustaining 850,simple heap leach that coeur has 25yrs experience with rochestor for 105mill-this is immediately accreative and has double digit IRR, this could strengthen the valuation given pzg and raise coeur value-105mill cash for infrastructure us jurisdiction ,resources, a 30yr active mining history,labor and again in north dakota-
the major shareholders voted for this while cde shares were cheap,kill the deal you tick of the money man in hopes someone will by the uneconomic miqel and build a plant-pzg running out of money-sleeper uneconomic.no money.5mill break fee and your directors legal fees-so some ambulance chasers make all the money-talk about shooting yourself in foot-the lawyers are probably backed by shorts couer was overpaying with its aserrs production ,projects and coeur capital.i look at all those legal teams on yahoo summary under news and it looks like a train wreck.