|Bid||10.25 x 0|
|Ask||10.90 x 0|
|Day's Range||10.27 - 11.00|
|52 Week Range||9.11 - 17.86|
|PE Ratio (TTM)||19.72|
|Earnings Date||Oct 30, 2017 - Nov 3, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||12.97|
, said Barrick was only interested in two kinds of mines: tier one assets and strategic assets. Answer, does it qualify on these three measures [500,000 ounces, mine life more than 10 years, better half of cost curve]? Addressing Barrick’s current portfolio, Mr Thornton said it was also clear it owned assets that were neither tier one or strategic, highlighting Hemlo in Canada, Lagunas in Peru and KGCM, the biggest open gold mine in Australia as examples.
LONDON, UK / ACCESSWIRE / July 27, 2018 / Active-Investors free stock reports for this morning include these Toronto Exchanges' equities from the Metals & Mining industry: Detour Gold, Silvercorp Metals, McEwen Mining, and Torex Gold Resources. Today's stocks of interest consist of: Detour Gold Corporation (TSX: DGC), Silvercorp Metals Inc. (TSX: SVM), McEwen Mining Inc. (TSX: MUX), and Torex Gold Resources Inc. (TSX: TXG).
Activist investor John Paulson's hedge fund on Thursday nominated eight members to Detour Gold Corp's board and reiterated its call for a special shareholder meeting, ratcheting up pressure on the gold miner. The hedge fund, Paulson & Co, which owns about 5.4 percent of Detour, had threatened to replace the company's board if it did not successfully explore strategic alternatives including a sale and the appointment of a new chief executive officer. "Paulson is not advocating for a fire sale, but rather a comprehensive review of all alternatives, including a sale," the hedge fund said in a statement.
Detour Gold Statement Regarding Activist Requisition; Warns Push for Fire Sale Would Shortchange Shareholders
Paulson & Co. Inc. (“Paulson”), as investment manager of certain investment funds, has requisitioned a special meeting of shareholders to replace the Board of Detour Gold Corporation (DGC.TO) (“Detour Gold” or the “Company”). Shareholders will have the opportunity to take back control of their Company from a self-serving Board. The current Detour Gold directors have presided over a period of massive value destruction with little regard for shareholder interests, while enriching themselves with shareholders’ cash.
Activist investor Paulson & Co. Inc. has nominated a slate of eight directors to replace the entire board of Canadian miner Detour Gold Corp. The hedge fund run by billionaire John Paulson, which said it owns a 5.4 percent stake in Toronto-based Detour, has formally called for a meeting of shareholders to elect its slate no later than Sept. 28. “The current Detour Gold directors have presided over a period of massive value destruction with little regard for shareholder interests, while enriching themselves with shareholders’ cash,” Paulson said in a statement Thursday.
TORONTO , July 25, 2018 /CNW/ - Detour Gold Corporation (DGC.TO) ("Detour Gold" or the "Company") reports an initial independent mineral resource estimate for the Zone 58N gold deposit located six kilometres south of its 100% owned Detour Lake gold mine. The mineral resource estimate is comprised of an Indicated resource of 2.87 million tonnes grading 5.80 g/t for 534,300 ounces of gold and an Inferred resource of 0.97 million tonnes grading 4.35 g/t for 136,100 ounces of gold. Michael Kenyon , Interim CEO, commented: "Detour Gold is in the fortunate position of having a large mineral reserve base of 16.0 million ounces supporting a mine life of 23 years.
Inc. Now his hedge fund is zeroing in on a small Toronto-based gold miner that in April cut its 2018 free cash flow guidance in half. Shares of the company surged Wednesday to their highest level in nearly three months as the sides traded shots, before they pulled back Thursday and Friday. Paulson owns 5.4% of Detour shares and wants the company to formally explore strategic alternatives, including a sale.
The largest shareholder in Detour Gold Corp. said it supports activist investor Paulson & Co.’s efforts to push for a sale of the embattled gold miner. The best way to unlock the value in Toronto-based Detour would be to run a full sales process, said Joseph Foster, a portfolio manager at Van Eck Associates Corp.. The low level of disclosure the company has given shareholders makes it hard to do a proper analysis of Detour’s underlying value, he said.
Barrick Gold Corp. is the undisclosed gold miner who was asked to sign a confidentiality agreement alongside activist investor John Paulson to discuss potentially buying Detour Gold Corp., according to people familiar with the matter. While Barrick’s level of interest in Detour is unclear, neither Paulson nor Barrick signed the confidentiality agreements, said the people, who asked to not be identified because the matter isn’t public. Paulson has held previous discussions about Detour with Barrick, they added.
TORONTO , July 20, 2018 /CNW/ - Following the release of its updated life of mine plan ("2018 LOM Plan"), Detour Gold Corporation (DGC.TO) ("Detour Gold" or the "Company") is pleased to announce the next steps in its ongoing plan to grow long-term shareholder value. "As we indicated in our June 27 news release, the Company remains focused on the implementation of the 2018 LOM Plan.
Activist investor John Paulson's hedge fund on Thursday said it would urge Detour Gold Corp to call a special shareholder meeting to replace a majority of the company's directors, as it pushes for change at the Canadian gold miner. Paulson & Co's statement comes a day after the parties engaged in a heated public exchange over Detour's failure in publicly disclosing a buyout offer. Detour did not disclose the buyout offer to Paulson because the company was aware that a third party had already informed him about it, the gold miner said in its latest statement.
Concerned about “meritless litigation strategies,” the fund run by billionaire John Paulson said Thursday in a statement the special meeting should be held no later than Sept. 28. The news follows 24 hours of increasingly acrimonious public commentary by the two companies, with each accusing the other of providing false and misleading information and both saying they have complained to the Ontario Securities Commission. Paulson alleged the gold miner had failed to share information about a possible buyer, and filed an email with regulators from the company’s interim chief executive officer, Michael Kenyon, asking the would-be buyer to sign a confidentiality agreement.
Activist investor John Paulson's hedge fund on Thursday urged Detour Gold Corp to call a special shareholder meeting to replace a majority of the company's directors, as it pushes for change at the Canadian gold miner. Paulson & Co's statement comes a day after the parties engaged in a heated public exchange over Detour's failure in publicly disclosing a buyout offer. Paulson & Co, run by billionaire John Paulson, has threatened to replace the company's board if it does not successfully explore strategic alternatives, including a sale, and look for a new chief executive.
Paulson is increasingly concerned that rather than focusing on the significant issues shareholders have raised, Detour’s management and directors appear intent on using the Company’s resources to engage in meritless litigation strategies. The current board continues to attempt to deflect attention from their failure to maximize shareholder value.
Canadian miner Detour Gold and activist investor Paulson & Co entered into an increasingly heated public exchange on Wednesday over the hedge fund's campaign to seek change at the company and a possible merger approach. The hedge fund, run by billionaire John Paulson, has threatened to replace the company's board if it does not successfully explore strategic alternatives, including a sale, and look for a new chief executive.
“We were in contact with the OSC prior to the issuance of our press release from earlier today and provided it with the unsolicited written communication, disclosing the non-public information, from Michael Kenyon. We also provided the request we made to Detour’s board to disclose this information to all shareholders. The actions of the Company’s board and management are without precedent, as they continue to waste corporate assets and act in a manner that is not in the best interest of the Company or shareholder interests.
Detour Gold Alerts Market to Potential Securities Violation by Paulson and Co.; Addresses Highly Misleading Paulson Press Release
Another Detour Gold Corp. investor has called for the Toronto-based gold miner to put itself up for sale, after Paulson & Co. said a major mining company was interested in potentially acquiring it. Coast Capital Management, the investment firm founded by James Rasteh, called for Detour’s board to immediately engage an independent financial adviser to explore a sale after the company declined to do so amid pressure from investors. “May we remind you that this company does not belong to you, but rather to us, the shareholders,” Rasteh said in his letter to Detour’s board obtained by Bloomberg.
Paulson and Co, a hedge fund run by activist investor John Paulson, said Detour Gold had received a buyout offer from another gold miner, sending the Canadian company's shares up 13 percent. Paulson was informed of the offer in an unsolicited letter by the company's interim chief executive officer, Michael Kenyon, last week, the hedge fund said in a statement. Kenyon also said Detour would only sign a confidentiality agreement with the interested party if both the party and Paulson agreed to a stand-still agreement to prevent any hostile takeover if the companies could not strike a deal.
A battle between Detour Gold Corp. and Paulson & Co. is becoming increasingly acrimonious, with the hedge fund accusing the gold miner of failing to share information about a possible buyer and Detour alleging that Paulson is misinforming investors. “The company does not have a sale process in place nor has it received any offers to purchase its shares,” Detour said Wednesday in a statement. The hedge fund run by billionaire John Paulson had earlier issued a news release saying it had received information from Detour that a major gold miner was interested in potentially buying it.