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Hi gwm - the mandatory offer for HGM stipulates that if the BoD sanction any divd payment as they were likely to do shortly, then that would be deducted from the 300p cash offer. HGM hasn't yet commented on what they intend to do about that yet, as far as I know...
My best two replacements when we're forced out of this are POLY and the Canadian Pure Gold (quoted on AIM under PUR) fwiw - although POLY are Russian, too, they're in the FTSE100 so that might afford some protection against such shenanigans we're seeing here.
PUR looks particularly interesting at this early stage of its development, sitting right in the middle of Canada's prolific mining belt, Red Lake. Well worth a look - sasa.
The advantage of POLY is... that the Russians already own it..
From my unserstanding of this dividends will be subtracted from the money you get from £3 offer.
Does anyon on this board know about these situations? Seems hgm price is now locked at about 296 pending finalisation of £3 offer, whilst if the gold run continues other go;ldies will rise.....as today.
aau and poly look the best, prices up today
Sasa. any comment?
Like getting towards £5 - that would be better than £3.
kenj,
I guess the hope is an aggressive activist hedge fund who specializes in this type of thing takes a stake ( underwritten by the 300p offer ) and tries to extort more out of the acquirer or holds on for the strong dividend and an improvement in shareprice. With the current outlook on Gold being hugely bullish I can't see why any hedge fund wouldn't be doing this.
An example of such a fund here
www CNBC com/2020/06/14/hedge-fund-elliott-management-shifts-to-elephant-hunting.html
I suspect that that is exactly the case, and I said as much in an earlier post.
Unless of course, this take over can be thwarted, but I have no idea how.
Is HGM now tethered to 300p (give or take a few p) no matter if the price of gold rockets to say $2200 / oz , in which case this should be over 400p maybe ? Likewise if pog slumps to say $1500 / oz, will we be insulated from a big fall in sp given Fridays RNS ?