The Investment Doctor • Sep. 22, 2014
Update: Australian Court Approves Papillon Resources Buyout SchemeThe Investment Doctor • Sep. 22, 2014
- The Federal Court of Australia has approved the scheme of arrangement.
- I anticipated this, as the court has no ground to deny the approval.
- The investment thesis becomes invalid, as Papillon Resources will be acquired and delisted.
- Papillon announces B2Gold’s shareholders have ratified the buyout deal.
- This ratification isn’t a surprise as it was very widely expected.
- As Papillon will be bought out and delisted, the investment thesis is obviously no longer valid.
There are no Transcripts on PAPQF.
Jun. 3, 2014, 8:04 AM
- B2Gold (BTG) agrees to acquire Papillon Resources (PAPQF) for A$1.72/share, valuing the company at ~$570M.
- BTG says the combination will result in a company with a growth profile beyond its three operating mines, which collectively produced 366K oz. of gold in 2013 at a cash cost of $681/oz.; BTG expects total production to rise to ~550K oz. by FY 2015 as the low cost Otjikoto mine in Namibia is scheduled to commence gold production in late 2014.
PAPQF vs. ETF Alternatives
Papillon Resources Limited (Papillon or the Company) is an emerging West African gold developer focused on aggressively fast-tracking the exploration, appraisal and development of its flagship Fekola Project (Fekola or the Project), located in south western Mali adjacent to the border with... More
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