Dan...
That was an interesting take on the NEM/KGC stock sale and it views it from a different perspective (perhaps more accurate and certainly more bullish) than what I was seeing. If the market was looking at the NEM stake in KGC as an ongoing market overhang then the sale is a positive as soon as the stock is distributed. I was expecting NEM to buy the rest of KGC at some point so had viewed the sale as a negative, but if the market was expecting the stock to be sold at some point in the future, my view was wrong.
I have kept my KGC shares and have been tempted to add to the position in this weakness -- also thinking about adding back the shares of GLG where I had lightened up a bit a few weeks ago as GLG is now at well over a buck discount.
I noticed that you might be looking to put on the GG/GLG spread again, but this time in reverse.
Take care, and thanks for the article.
mlsoft
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