If they use the proceeds to retire 5.5% convertibles, that is a positive, in my opinion, and there is no little, if any, real dilutive effect in the long run. With KGC debt free, it has more flexibility.
I feel better about it, at least for now.
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ml,
I agree with your summation....
Why CEO Buchan couldn't just come out and say something to that effect in the Corporate PR is, imo, indicative of poor judgement on his part and may reflect a lack of concern about his stockholders.
Can you imagine Goldcorp's McEwan being so remiss?
In any event, I'm out of KGC and feeling better for it.
That disclosure should pave the way for a spirited rally in KGC's shareprice..... <VBG>
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