From Seeking Alpha:
Jaguar Mining Inc. (JAG): JAG is a Canadian company engaged in the exploration, development and extraction of gold in Minas Gerais, Brazil. On Tuesday, Hong Kong-based Senrigan Capital Management filed SEC Form SC 13G indicating that it held 8.0 million or 9.5% of outstanding shares, thereby also making it the largest institutional holder of JAG shares. JAG trades at 13-14 forward P/E and 2.2 P/B compared with averages of 12.0 and 3.6 respectively for its peers in the gold mining stocks index, while earnings are projected to more than double from 26cents in 2011 to 54cents in 2012.
Entirely possible the Hong Kong firm is acting as a representative, they need some vehicle to purchase shares/company. If they have intent to move forward with the buyout they are buying below their quoted offer. I know i'm stating the obvious but does make one think.
This is very interesting (due to timing of course), but you have to wonder where they got the 8 million shares.
Here is the filing:
Senrigan Capital Management Limited
Citizenship or Place of Organization: Hong Kong
Citizenship or Place of Organization: Cayman Islands
Citizenship or Place of Organization: United Kingdom
Shared Voting Power: 8,045,012
Percent of Class: 9.5%
This statement is filed by Senrigan Capital Group Limited, a Hong Kong private company (“Senrigan Capital”), Senrigan Capital Management Limited (“SCM”) and Nick Taylor, each with respect to the Issuer’s common stock (“Shares”). Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.”
So is this firm acting on Shangdong's behalf? And if so, they would be buying shares below the offer, correct? If that were to continue, would I be correct in thinking it could potentially be a way to force a hostile takeover at a lower price?
There are many ways to look at this, but one way would be to think Shangdong was the one who leaked this bid to the media to force JAG's hand. JAG in turn tried to slow things down by hiring JP Morgan, etc. Now the Chinese company says "screw it, we'll just buy up shares on the open market and take you out anyway."
Just a thought. What do you guys think?
I am NOT an expert, but do believe that if you have signed a NDA and have access to the books, you are NOT permitted to buy the Stock!!
No, this Company is NOT acting on behalf of Shandong, it is merely trying to make a fast buck, just as Bristol Partners is trying to do -
No matter what, JAG will be Sold and it will NOT be less than $ 9.30-
One question, ALL articles point to $1 Billion Offer made - that works out to $11.85 - How is the media coming to $ 9.30 (are they deducting the DEBT??)
Why not put you on ignore bb? Because it's just too much fun to reply to your pompous posts. Believe what you want to believe my friend; however, not only have I traded JAG for profit THREE times since the announcement, but chances are excellent that I'll do it again....soon. Cheers!