Has everyone bailed out following the agreed takeover with KCN? Has everyone ignored the corporate action taking place - such as new substantial shareholder in LRC that is not KCN?
Does everyone here think that KCN is getting this company with its first offer and will not be forced to increase its bid?
The way I look at it, an investment in LRC is now a bet to nothing.
1. LRC is trading significantly under the KCN share scrip offer.
2. KCN has franked the quality of LRC's gold assets by making a takeover bid and talking about mine development.
3. The initial bid only valued LRC at $22 million, which to me looks very much on the cheap side.
4. Surely other parties will now be interested - if only to extract a higher bid from KCN which imo is very much on the cards.
LRC Price at posting:
$2.50 Sentiment: Hold Disclosure: Held
