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Centerra Gold (TSX:CG) has announced a friendly all-cash bid for AuRico Metals (TSX:AMI) at a price of C$1.80 per AMI share, which represents a premium of 38.5% to yesterday’s close for a total transaction value of C$310M. In our view this bid undervalues AuRico’s diverse assets (development assets and royalty portfolio) which leaves room for another bidder. We believe Aurico’s assets are worth more than $2/share (Figure 1); however, the diverse nature of them is likely to require a joint bid from a royalty and operating company. Consequently, we consider the odds of another bid to be ~30% (medium). read more
On Friday, there was an attempted coup of the Turkish government. While the coup was quickly thwarted by government forces, effectively maintaining the status quo; in our view this has increased the risk profile for foreign mining companies operating in Turkey. We expect that this increased risk is likely to negatively impact the stocks Monday morning. Those that essentially have pure-play exposure, like Alacer Gold (TSX:ASR) or key projects within the country like Eldorado Gold (TSX:ELD, NYSE:EGO) and Pilot Gold (TSX:PLG) are likely to be the most impacted. read more
Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer (EMD) in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and Yukon.
Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.
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