Honey bunny, AUY got down to $8.5 just a month ago (Aug.16).
Now that another $250M is offered. When the market starts tanking for real (starting next month?) it makes perfect sense that AUY will drop below $8.5 prior low to $8 or lower.
We haven't had a "C" wave down in the market or goldies yet, so the niagara falls in valuations is still up ahead...
lay off the crack pipe for a while.
I wouldn't be unusual to see the low 11s, but saying 8 is about as much a reality as Gore getting elected president in 08.
The market already factored in the whole 3 way play by Marrone, hence going from 13+ down to 10+, but once you look at it, either way, if the deal gets done or doesn't, there is no question that AUY is going up. Short term turbulence is the norm for any stock in any sector in response to a bid as such, though I think Marrone shouldn't keep upping the bid. He has no other choice, except to walk away, which I think is a pretty good idea, actually. AUY would rocket to 18+ if he walked and Meridian would tank the 5 bucks it got from the announcement.
Re-read my prognosis yesterday. Right on the money.
Overpaid on top of the market = go to jail for a long time, don't collect $200, don't jump over "GO". Monopoly teaches a few basic business skills, lol.
34M shares on the 11th.
This is the 2oth, with expiration previously set for 24th.
If they had even a remote chance with the old offer, they would have stuck to it.
I would guess they haven't picked up 40M yet.
As much as I like the long term prospects for AUY in 08, this is a bucking bronco right now.
They could raise 2 more times before this is all over...
P.M. is totally determined to make a name for himself over all this.
It's getting personal at this point.
Meridian, in his mind is the only gold company on the planet.
We can name a half dozen better situations for this company right now.
$650M in borrowed cash and heading north...too much hard mullah going out the door for me....where does he stop $1B ?
this is a great deal for Yamana. You idiots onthis board fail to relize gold will be over 800 by years end. Most likely it will touch 870-890 on its way to 1600 with a few years. Yamana will be a 40 dollar stock within 30 months, so go ahead and short it!
Please let these people dream all they want for the only alternative is for them to wake up with the point being if they woke up they might actually want to associate with someone with a clear head on their shoulders.I would have great pity for that poor soul.
The issue is that Marrone lied by calling the prior offer final. Sure, in over two year (by your projections) this may be a $40 stock (again, only if you think that the dollar will continue to weaken for over two straight years), but in the meantime I don't want to sit around and stare at dead money, if I can get out now and get back in at the same level a year from now.