Motley Fool Speaks Out!!!Preparing to sell??? 12-Apr-12 02:41 pm Will FCMI help PZG sell? From Motley Fool.....
Higher and higher?
Between the higher grades of gold it's finding at its Don Ese and La Union projects, Paramount Gold & Silver is sitting on a gold mine of opportunity. The gold and silver miner has recorded higher assay results at its San Miguel mine and recently said it had found the highest silver grades yet at its San Antonio silver deposit.
Yet the stock is still off some 30% over the past year, which might be why FCMI finds the stock to be such a bargain. The hedge fund has established a near 16% stake in the gold and silver miner. CAPS member Venerability suggested earlier this year that its manager, Albert Friedberg, was setting up the miner for a possible takeover, possibly by Seabridge Gold (NYSE: SA ) : "The CEO of Seabridge, a longtime Paramount board member and close associate of Mr. Friedberg over the years -- just left PZG's board, which often happens prior to a takeover bid."
Venerability sees parallels with Arizona Star, which was purchased by Barrick Gold (NYSE: ABX ) in 2007 and in which FCMI played a role. While such a scenario can always play out, I own shares of Paramount because of the potential its mines possess. You can add Paramount to your watchlist to see whether an offer is ultimately made, then let us know on the Paramount Gold & Silver CAPS page if, like me, you just see this as a golden opportunity. Rating :
(No ratings)
