Nov. 8 at 2:45 PM
$NGD For those of you watching closely and analyzing this thing, it's a terrible terrible deal. The closing price of new gold stock on October 31 was
$7.34 US. The share price on November 7 is
$7.03. The market obviously does not like this deal as it's a joke, Management really screwed this up big time. How could you accept a deal without any kind of a minimum price target on a deal let alone have it be based entirely on the CDE's share price on the day of the closing of this deal? Total stupidity.
New gold had its best years coming up and we turned the corner and everything was looking very good particularly from a free cash flow perspective, earnings, production increases, rising gold price, etc. etc.
The only bright spot is that the institutions will decide if this new gold deal goes through or not as they own 68% of the outstanding shares so they will decide our fate. We won't decide anything here as we are small retailers. I hope institutions actually have a brain.
