re: Ann: Binding Cash Offer Received for West...
Due care would entail that the details of the placement i.e. 28% & 72% should have been disclosed in the announcement. as they had announced previously that they were seeking to purchase the tenement back from Barrick.
therefore without clarification it left ambiguity as to whether or not this buy back process had been completed and therefore some shareholders might assume COY would see 100% of that $13M.
this leaves bigger issues though, as now barrick have confirmation of what their 72% is worth i.e ~$9M. our market cap is $6M so how are we going to fund the buy back?
COY Price at posting:
3.4¢ Sentiment: None Disclosure: Held
