Reason for drop24 Sep 2012 23:50
What, in this context, does 'consolidate' mean? "September 24, 2012 09:11 "Prosperity consolidates 7% of shares in Highland Gold, nominates independent director "MOSCOW. Sept 24 (Interfax) - Prosperity Capital Management (PCM) has consolidated 7% of shares in Highland Gold Mining (HGM), a London-listed company that mines gold in Russia. "Prosperity Voskhod Fund said in a report that representatives of PCM have met with HGM's board chairman and CEO and reached a tentative informal agreement to appoint an independent director to the miner's board who will be nominated by the fund. "Prosperity Voskhod spent $10.6 million on the purchase of its stake in HGM, most of which was acquired in April 2012, when Canada's Barrick Gold Corp sold a 20% stake in the company, the report said." http://www.interfax.com/newsinf.asp?id=362719