Semafo Not Being Very Straightforward Again: Launching A Hostile Bid For Orbis Gold
The Critical Investor • Wed, Oct. 15
- Semafo has been acting remarkably for the last year or so.
- The company apparently realized just in time a year ago, they could speed up production of the very profitable Siou asset no less than 6 months.
- Out of the blue it published ambitious production and cost targets at the end of 2013 as well, even beating those in Q2, 2014, raising the share price.
- In the meantime, management was selling the Kiniero mine to an insider, after labeling it “non-profitable”.
- A few days ago, Semafo carried forward a hostile bid for Orbis Gold, right after this company offered Semafo to do DD first after the upcoming economic study.