That explained why Saracen was among the most shorted stocks last week and the share price was falling more than normal. Some instos already knew about the deal at $2.95 for a while! I almost bought more... glad I held back.
Like most shareholders, I believe this could be a great asset for SAR... if Newmont can indeed increase production back to 700k oz. and if gold price hold.
We better trust management did a pretty good assessment of this opportunity. Hope it doesn't become a big liability in a few years. Let's see.
SAR Price at posting:
$3.39 Sentiment: Hold Disclosure: Held