Takeover bid??$$$$
posted on
May 24, 2010 04:23PM
First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed
KWG's Board of Directors has appointed Cynthia Thomas to fill a vacancy occasioned by the resignation of Richard P. Fink as a Director of the Company late on Friday afternoon May 21, 2010. Ms. Thomas is Chair of the Board of Victory Nickel Inc. and has 28 years of banking and mine finance experience, and currently acts as principal of Conseil Advisory Services Inc. ("Conseil"), an independent financial advisory firm specializing in the natural resource industry which she founded in 2000. Recent mandates include providing strategic advisory services to Mercator Minerals, Luna Gold, Aquila Resources, Capstone Mining, Sherwood Copper and Xstrata Nickel and Yukon Zinc. Prior to founding Conseil, Ms. Thomas worked with Bank of Montreal, Scotiabank and ScotiaMcLeod in the corporate and investment banking divisions. Mr. Fink was the nominee of Cliffs Natural Resources Inc., to the KWG Board of Directors.
Sure looks like some fire-works is about start again in the Ring of Fire. Cliffs has to be the suitor if their member of the board resigns. But you never know.
So how much will be offered for the shares? Let's see now...........a 50% mark up seems generous. So we'll get 12 cents for our KWG shares. That leaves poor little Spider all alone in full control of their share of the chrome. That may equate to 15 cents for us.
All this is guessing of course but not out of the question either. Remember Freewest? Did anyone think they would be bought out so cheap? There was a little help from Noront that pushed the offer up. I wonder if we can talk nice to Wes over at the other camp?
That brings up another thought. How will this play out with Noront's share price? That's kind of a crap shoot too.
So what do I know? About all I am sure of is that first thing tomorrow morning I will not be alone at the computer to find some answers to this interesting puzzle. The Ring of Fire will make headlines again and that isn't going to hurt. But there may be many a KWG and Spider shareholder frusrated once again " a la FWR ".