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Message: Re: TIMMINS on Fire

Jun 26, 2009 09:12PM
1
Jun 27, 2009 01:54AM

This is on the lsg website embedded in one of the news releases:

On June 17, 2008, the Company completed a second private placement transaction with Hochschild, involving the sale of 33,166,908 common shares of the Company at a price of $2.40 per share. The transaction brought Hochschild's total shareholdings in the Company to 61,339,210 shares, representing 35% of issued and outstanding shares, for proceeds of $144.3 million. Near the end of the second quarter, Hochschild acquired 11.8 million additional shares through a private transaction with a subsidiary of FNX Mining Company priced at $1.82 per share, increasing its interest to 40% on a fully diluted basis. A standstill arrangement exists between Hochschild and Lake Shore Gold limiting Hochschild's interest to 40%, on a fully diluted basis, until November 22, 2010.

This may limit the upside of lakeshore gold until summer 2010. However West timmins does not have this clause . They also just put a shareholder protection clause in place.

My guess is they have been approached by someone for take over look at share volume vs lsg.

San may be in the area but no one is giving them credit for this yet.

1
Jun 27, 2009 11:57AM
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