RCKS talk

Friday, January 26, 2018 Derek Macpherson


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In this edition of RCKS Charts, Keith has evaluated Alacer Gold Corp. (TSX:ASR), Austral Gold Ltd. (TSXV:AGLD), and QMX Gold Corp. (TSXV:QMX). Market activity and investor attention during the past couple of weeks has increasingly focused on Q4 earnings reports. This has led to hesitant activity in mining and exploration stocks with reduced volumes, false starts and plenty of backing and filling. As this “noise” winds down, we expect attention to again refocus on the improving, underlying trends in the commodity sectors, namely metals/mining, energy and agriculture, where interest is beginning to surface. We have highlighted a number of names recently, all of which we expect continued accumulation. We are adding another three names to that list. read more

Monday, May 15, 2017 Derek Macpherson

Eldorado Comes to Canada; To Acquire ICG

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Integra Gold Corp. (TSXV:ICG) and Eldorado Gold Corp. (TSX:ELD, NYSE:EGO) announced that they have entered into a definitive agreement for Eldorado to acquire Integra for ~C$1.21 per share in either Eldorado shares (0.24250 Eldorado shares), cash of C$1.21250 or cash and shares (0.18188 and C$0.30313). Compensation available to Integra shareholders is limited to C$129 million in cash (~25% of the transaction). The offer by Eldorado represents a 52% premium of the May 12, 2017 close, and a 46% premium based on the 20-day volume weighted average price (VWAP). This consideration represents, 1.0x NAV and US$122/oz, which is a premium to precedent transactions (0.7x NAV and US$41/oz). With this being a friendly transaction and taking into account the valuation, we believe there is a low probability (~10-15%) of a higher bid materializing from one of the larger players in the region or a new entrant. However, this should benefit smaller regional players like Radisson Mining Resources Inc. (TSXV:RDS), Monarques Gold Corp. (TSXV:MQR), Probe Metals Inc. (TSXV:PRB), QMX Gold Corp. (TSXV:QMX) and Alexandria Minerals Corp. (TSXV:AZX) and continues to highlight the scarcity of political stable development projects as we have previously highlightedread more


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