Still not sure why people thin at the time the deal was so unfair to MKO shareholders.
Sure now that Orelia has been proved up to be amazing deposit, in hindsight the acquisition looks cheap. However noone knew the potential of Orelia back then, least of all Ruane. And lets be honest, it never would have been investigated under him. It was EAR that did the work and is now reaping the benefits.
So at the time, MKOs main asset was BW. EAR's main asset was Julius. Both of pretty much equal value and as important to each other.
As I maintain, at the time it was a merger of equals. TBH former MKO holders (of which i was a large one) should count their blesisng. Under Ruane, it would probably just be plodding along doing nothig waiting for a suitor...look at RWD for example which has been a very frustrating investment for me over the last year. IF ONLY a company would come and take that over!
Cdchi1
EAR Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
