Saracen has no debt, and $43M in the bank, with reserves of over 400,000 ounces.
Why has the board allowed the price to go from $1.86 to $1.14, said nothing, and then got $150M debt facility?
Something is up. SAR recently spent over $50M on new fields, and still had no debt.
Maybe the board wants cash on hand to fight a takeover.
Not a nice thing for shareholders, when the board has a hidden agenda.
SAR Price at posting:
$1.32 Sentiment: Buy Disclosure: Held
