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
HotCopper & The Market Online will be live From the Floor at the Mining News Select Conference and we want to bring the voice of our online audience to the show with us.