Whom Else?

Who do I think might be the eventual hostile bidder?

The company that comes to mind first is Centerra, which was spun off from Cameco. By coincidence, GBN.V is a conglomerate of properties spun off from Cameco(really SMDC). But they don't seem interested in the slightest.

The second company that might come to mind is IMG.TO. GBN.V is a company trading at its asset value with no debt, no permitting issues and room for growth. This fits with IMG.TO's acqusition strategy. Of course, there are better plays out there, but either they don't have the room for growth, or will face permitting issues.

Recently Macquarie cross traded 5 million shares in GBN.V which they were probably exposed on the sell side. In order that they become part of the hostile bid, they have to write down all of their exposure. Macquarie is also advisor to IMG.TO.

Make any sense?

“Further production growth is expected from acquisitions. With IMG’s large cash balance, they continue to be potential acquirers of a development asset with the potential to produce +150kozs in Canada, West Africa, or South America,” Mr. Lesiak told clients. “While market distaste has risen to potentially acquisitive companies, IMG has a track record of accretive

deals and has reiterated its aversion to using its paper given current valuations.”

Financial Post

Bernanke Murders Gold Standard

Here's a thought. Its a known fact that central banks were selling gold into the bottom of the market. Ergo, the top of the market would be when central banks are buying gold, especially the Fed.

There is a reverse corollary to this action, which is central banks had bought treasuries out of the market so that they could turn around and sell them. And, it should be seen that central banks are buying bonds out of the market at the very top of the treasury market, and selling short term paper hand over fist.

Its not really China buying the gold, the FOMC is probably taking down physical in order to sell it in a bid to fix prices.

http://www.businessinsider.com/ben-bernanke-murders-the-gold-standard-2012-3

-F6