I don't think it would have been a decision taken lightly. Paladin would have been involved with many of these workers for some time so they would have made this call when there was no other sensible option. I believe in time this will be seen as a sensible move rather than if they had made the C&M mov earlier, pre-emptively . Maybe they are securing their position in case the counterpart falls through on the deal for LH. If they pull out and Paladin hadn't made this move then Paladin may have been bullied in to yet a new price or deal for the stake... maybe they re covering their bets. If the deal goes through great if the counterpart mucks around and does pull out, they get the $25m deposit and may still scrape through with K on C&M.
I do think its a smart move at this time and in light of their own deals and time scales for managing events.
It was announced after the deal was agreed. That is the KEY bit in my humble opinion.
Investing long term.
My thoughts and opinions.
pdn, page-23
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$10.40 |
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Mkt cap ! $3.109B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $10.37 |
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| Price($) | Vol. | No. |
|---|---|---|
| $10.40 | 2536 | 2 |
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