ottorock

What Is Northern Orion Waiting For?

the deal announced today shows just how desperate NTO was to sell out.. The investors quite clearly are not so easily fooled. Some 30 minutes into the trading day and Yamana is off 6%, Meridian is up 18% and NTO is up a pathetic 8%. Essentially NTO's $250 million cashpile is being looted to fund a cash component for Meridian's shareholders, NTO holders get rapidly depreciating Yamana stock only...

I said "sell into strength over $6" and lo and behold the supposed $7.07 offer from Yamana is being ignored as NTO holders express their frustration and sell out for over a dollar less..

its called "Voting with the feet"

What Is Northern Orion Waiting For?

and thus the market makes fools of us all! Suffice to say that this note was submitted yesterday morning just hours before the AUY news was published. Best to all.

CE