Does anyone know if this is a done deal or is a rival bidder a possibility.
One of the main reasons I held on to this stock was the comparisons made with CJOs peers in their investor presentations now from memory there were similarities with El Castillo and Camino Rojo which was formely owned by Canplats, Goldcorp and Minera Penmont found themselves in a bidding war which Goldcorp won and acquired the company for $277-million.
If our company was throwing around comparisons with Camino Rojo and others like this at their AGMs and investor presentations can someone clarify why we are looking at an offer of $119-million (Thats script not cash). Also Canplats was taken over in Dec 2009, markets were'nt that much better back then.
Another reason why I held on was that I had faith in the company and team that were driving this, I believed them when they said the feasibility study will be anounced in xx time frame, I believed them when they said they are waiting on an answer from Goldcorp, I'm not sure if I believe them when they say they wan't to focus and fast track the other 2 projects in Mexico. Yes they are promising but what in year terms defines fast track. I understand delays are common but how many years will it be before we see a FS.
I believe I can still have faith just "SHOW ME THE MONEY"
CJO Price at posting:
12.5¢ Sentiment: None Disclosure: Held