Rooters Newswire : In a surprising move today, Goldcorp (G), the world's largest gold miner by market capitalization, offered $5.01/share for San Gold Corporation (SGR), a small producer based in Manitoba Canada, for a total value of approximately $2.075 billion including assumption of debt. The offer represents a whopping 3500% premium to yesterday's closing price of $0.15/share. Reliable sources for Goldcorp, who wished to remain anonymous, said the company didn't want to be old to soon and smart too late in moving on the great asset that SGR has built over the last 8 years. Goldcorp foresees huge catalysts which will drive the value of SGR to $8 by the end of 2014 and $10-20 bucks by next spring. The company evidently wanted to make the $5 plus bid by Friday in fear that SGR would become the next G with its estimated 75,000-85,000 oz for 2014 at an AISC of $1700/oz. The sources said that they don't believe the paid bashing moron scumbag shorters who have manipulated the share price of SGR with help from the crooked bankers, politicians and the evil fed. The market, however, apparently views the offer as some sort of joke since the shares of SGR remain flat today after 2.5 hours of trading.
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