I find Mr Quinn's cheek breathtaking. "Significant premium, indeed".
Idjit the Midget could have done better.
So are we, the shareholders, going to let the Canadian "rescuer" walk away with the loot?
Sure is beginning to look that way. They chose a time to strike when lenders are getting scared and therefore rather choosy.
(Sir) Lunchalot
Scoffer Extraordinaire
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As reported by the Age (Melbourne):
"Perseverance told its shareholders that the deal with Northgate was in their best interests, even if the bid price was less than half the 44¢ a share that Perseverance was trading at in February. The full extent of Perseverance's operational problems at Fosterville became clear in June.
Perseverance chairman John Quinn said: "In addition to providing our shareholders with a significant premium, I expect that the operational expertise and financial resources of Northgate should allow the assets to prosper going forward."
PSV
perseverance corporation limited
