Traders Cooperative

[ItsAllCyclical]

NG - Thanks for the link. What I take away is that while the first offer for PSM was probably a fair offer it set the stage for this whole takeover. While I think NG should/would probably prevail over Barrick/PSM in the dispute allowing Barrick to pick up PSM does give them some leverage. I still think NG will fetch a better price eventually, but had they come in w/a higher offer immediately for PSM it would have decreased Barrick's leverage (if they could have got enough shares to block) and maybe Barrick would have waited like many majors until NG was closer to production (reducing uncertainty). It doesn't make any sense to come in so much higher than the NG offer for PSM unless they're going to use it for leverage. The fact that NG was willing to buy PSM vs fight might have caused ABX to examine it more closely. Opinion?

I'm eager to hear NG's response and hoping if possible they'll release more drill results ASAP.