@danbradster Just thought I’d flag the elephant regardless of whether Regis or Vault ends up acquiring BGL, we’re likely looking at a return somewhere between $1.10 and $1.50 per share. It’ll probably be a scrip deal, possibly sweetened with some cash. Now, while hedging can sometimes be a smart strategy, in BGL’s case it’s been a total clusterfuck. By my calculations, the hedge is burning through $600 per ounce, with liabilities hovering around $420 million, plus $110 million in debt. Honestly, a swift sale might be the cleanest exit for most involved. Are you going to stay or go if we get a changing of the guard? I noticed Blackrock are still holding???
Your thoughts?
KCN Price at posting:
$2.24 Sentiment: Buy Disclosure: Held
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