Wish this Monday was not Memorial Day, The shares will be bid up at the open on the Toronto....The importance of this transaction to all parties for many different reasons makes this one of the most intriguing speculations.
The PR from GRZ has very bullish undertones....The speed at which gold could be poured here could just about be as soon as possible. A major will more than likely participate , so many moving parts we need a bit more time. So be it.
I look at the 34 Million raise as an ultimate plan B if the jJV does not go together. The Doug gets to talk softly yet carry a big stick!
Just read the WSJ article, and it highlights the wildwest/mafia like behavior of illegal mining that constantly goes on in VZ & Bolivia in places. There will be a heavy military zone established around any mining that the VZ-GRZ joint venture will conduct. I would imagine it will be part of the forth coming deal... it is ironic and sad that VZ is so poor and it's people suffer so much having so little , yet they have one of the richest gold deposits in the world that will hopefully provide much needed relief. There is a lot of pressure to get mining ASAP, that is key to our future "prospects".
You raise a very good question- if the offer was unsolicited(I believe that it was), then general practice is to seek competitive bids.
The actual book value that includes all the goodwill on the LSBG balance sheet is slightly over 1.60 times and that would be a new high paid premium for a small cap New England bank, for at least the last 4-5 years or so.....
From out of nowhere BHB makes a very astute purchase of one of the most undervalued banks in New England! The $17 purchase price is more or less a reversion to the mean value of LSBG. There should be plenty of cost savings and synergies with senior management job cuts etc.
Seems like a very strategic buy, perhaps setting up for a PBCT, CFG, or NBTB purchase within the next year or two...
BHB buys LSBG. Lake Sunapee is a great franchise that was one of the best New England bank stock values, big props to BHB management for making a great strategic buy. What a move to now be in VT/NH. With the synergies that will be created BHB should enjoy solid earnings growth....
Very well done!
Seems conservative, yet what really matters is what the entire deal structure is like, shares might go much higher depending on the terms...
Totally agree, me thinks we will get paid twice - first the award and second shares in one, if not the most valuable gold mine in the world . This all based on the JV being structured properly which will have to require a military zone built around the project to protect the interests of the people of VZ who badly need this project to succeed and fast. It is a bit ironic how so much good can come from a nightmare of misfortune for longterm GRZ holders.
Next week can't come fast enough!
You have to view this as a very bullish sign, especially with the ongoing formation of the JV and receiving our award. Timing is everything!
Nick GRZ more than likely will have the lowest cost all in sustaining cost structure in the world I think that will off set some of th country risk. Hey after we get our award distribution, to own that JV for what will be our basis will be terrific!
Nothing is easy.
When it looks easy it's going to get very hard, and then just when it seems the hardest, it gets easy.....
I think we are on to closing a deal!
Post award , the JV and it's eventual return could be hard to fit on a calculator!!!
I am an optimist and jaded at the same time. Interestingly, I still think , especially now till the deal announcement the shares are cheap and in fact there is some virtue in adding right here.
Perhaps we are almost there. Good luck all you all ( that is plural for y'all).Till that day.....
Where does all your visibility come from? The 2.5 billion settlement with BoA, where do you think that will put the price of shares in AMBC? Why/how does the merger of equals come about? Your reply would be very much appreciated....
You are in the right range with about $6 bucks. The real value of the shares going forward is the JV. With the lowest all in cash costs of any mine in the world GRZ shares could SKY!
I am hoping that we will receive the award cash in the form of a one time dividend payment, so that we will be able to continue to hold all our shares for the real ride...