Takeover is not the Only Option
posted on
Mar 18, 2011 06:29PM
Some have stated that the only option would be a takeover. I understand their opinion on how great it would be to see companies like Integra or Shandong come on there horse and make a bid on CMM. Thanks for your opinions. There are also a lot of other prospects for takeover that must be considering this deal of a century.
But future doesn't only depend on a hostile takeover as CMM has everything in order and is ready to fly high this year and all are aware of this and want to get in as share price is low. They can't keep the price low any longer as potential for success is great and markets are aware. CMM is not just an exploration company run on speculation but it is a very soon to be mid-tier producer so quick response was necessary and these actions in the last few weeks were done by BOD and WTG to move on the best price possible for major sharehoders.
As long as we all follow through and show the markets how strongly we disagree, this will work in the minority shareholders favour as well as Century as a whole.
Only future will tell, but by end of April - 2010 results and 1st quarter results will have to be released and will speak for the company. CMM was also suposed to release 43-101 which has been coincidently postponed until after the merger date. Also, in regards to needing cash - the money they borrowed from WTG has got them through the hard time they supposedly suffered from the Major Disruptive Cone Crusher Story and cash flow from Peru and Lamaque should keep them a float without further excuses.
Therefore, Hostile takeover at the right price would be great but business is business and I'm sure the offer still would not be as beneficial as letting Century run it's own course.
Wopster