Replies to post #16496 on 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.

[ItsAllCyclical]

NG - As usual Patriot is very sharp. I love this idea. Depending upon how NG responds and if the stock is still under $16 I may add more tomorrow even though I'm already pretty loaded. % wise I don't think I would add more than 25% to my existing shares, but who knows.

http://messages.finance.yahoo.com/Basic_Materials/Gold_and_Silver/threadview?m=tm&bn=24339&t...

>> This is a brain teaser for people who really know NG and the beautiful contract they have on DC. I don’t want a white night! I have no say so I’ll take what I can get. BUT, NG has much more leverage than ABX pretends to have got by sleazily buying PSM. Grace may add $150mn max to GC capex worst case. That’s it. ABX will NOT earn its 70% in DC. They don’t have time. That’s leverage. NG cannot use it though. NEM can. How much will NEM pay for a 99% chance at 70% and control of DC. They are struggling to keep above 6mn ounces per year. Ya think they might want a high odds shot at an extra 1-2mn ounces by 2010?? So what could ABX lose? 1-2mn ounces per year. Hmmm…Who has whom over a barrel. We will see if NG has this or other creative solutions up its sleeve. Unlike PSM, NG has real value and not nuisance value. I refuse to accept that they did not foresee this and do more than a SH agreement. If I am wrong, I will sell with pleasure. F##k em. They have my respect and loyalty only as long as they deserve it. For now. I will watch with interest. <<