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Jaguar Mining (JAG +7.3%), which fell on Wednesday following its CEO's unexpected resignation,...
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Friday, December 16, 2011, 2:04 PM ETJaguar Mining (JAG +7.3%), which fell on Wednesday following its CEO's unexpected resignation, is rallying today after issuing an update regarding its strategic review. The update suggests the company is open to selling itself, but doesn't provide any guarantees. Chinese miner Shandong Gold offered to buy Jaguar for $9.30/share in November.
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The Chinese are in no hurry to make decisions, in any of their affairs. Time is irrelevant to them. They will wait a situation out and only seal a deal faster if they feel they may loose out. Also, JAG is not the only miner out there that can be bought up.