The way Great Bear Resources (GBR.v) is trading in Q4…
…plus the manner in which Barrick has locked up the land around Dixie (and with the assistance of GBR itself in certain specific zones, we hear) makes this deal Full Greek Cheese*. All we’re waiting for now is the hammer to drop, plus of course the inevitable moans from the peanut gallery on how the ticket price is too low. Buying at $23 may not make you a lot and we probably need to wait until 1q22 now, but dead certs are not supposed to be doubles anyway.
Disclosure: A small long that I won’t sell before the print. FWIW my guess is $30.
UPDATE: Utterly bizarre. Posted the above, went out for the evening stroll, came back an hour later and…
Kinross to Acquire Great Bear for C$29.00 per Share, Plus a Contingent Value Right
…here we go, Kinross has forced Bristow’s hand. There’s no way this one goes uncontested so hold all your shares people, Special K just made C$85m with one news release (linko here).