idle and fond bondage

First Mining Finance (FF.v) makes a move

And it’s on Coastal Gold (COD.v), owner of one of my favourite ticker symbols and a lump of Newfoundland with gold in it.

TORONTO, ONTARIO–(Marketwired – April 27, 2015) – COASTAL GOLD CORP. (TSX VENTURE:COD)(FRANKFURT:CY41) (“Coastal Gold” or the “Corporation“) announces that it has received an unsolicited offer (the “FMF Offer“) from First Mining Finance Corp. (“FMF“) (TSX VENTURE:FF) to acquire all of the outstanding common shares of Coastal Gold (the “Coastal Gold Common Shares“) for 0.122 common shares in the capital of FMF for each Coastal Gold Common Share by way of a plan of arrangement under the Business Corporations Act (Ontario) (the “ProposedTransaction“).

Whole thing here

COD.v is has a deal in the pipeline with Sulliden Mining Capital (SMC.to) (don’t do deals in Afghanistan, Kazakhstan or Bhartistan) that values it at a ticket price of $4.06m. If we take FF.v’s 41c close tonight as the benchmark, this deal values COD.v at nearly 8.5m. That’s a big jump.

PS: The interesting thing here is Bill Pearson of COD.v, one of Stan’s cronies. Wonder how he’s going to explain to the world that an offer double that of SMC’s is not as good as Bharti’s incestuous relations.

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