full of sound and fury, Signifying nothing

Kaplan and Electrum funding at the bottom

I should have mentioned this yesterday, I didn’t, I’ve been reminded about it again today by a couple of mailers (ty MH ty RF). I’d safely call this the most interesting news release of the week and it starts this way (your author’s bold type in a couple of places):
NEW YORK, Jun 11, 2015 (BUSINESS WIRE) — Electrum Special Acquisition Corporation (the “Company”) today announced the pricing of its initial public offering of 17,500,000 units at $10.00 per unit. Each unit consists of one ordinary share and one warrant to purchase one-half of one ordinary share for $5.75 per half share, subject to adjustment.
The units are expected to begin trading Thursday, June 11, 2015 on the NASDAQ Capital Market under the symbol “ELECU.” Once the securities comprising the units begin separate trading, the ordinary shares and warrants are expected to be listed on the NASDAQ Capital Market under the symbols “ELEC” and “ELECW,” respectively.
The Company is a blank check company formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with, target businesses. Although the Company’s search for a target business is not limited to a particular industry or geographic region, it intends to focus its search on target businesses that operate in the metals and mining industry, with an emphasis on gold and other precious metals. An affiliate of The Electrum Group LLC, a privately held global natural resources investment management company that manages the assets of Thomas S. Kaplan and other institutional investors, is acting as the Company’s sponsor.
So, Thomas Kaplan has U$175m and is looking for a place where it can play nicely in the PM space. Gold juniors, form an orderly queue, no jostling at the back there.

PS: The difference between this new mine-funder company and others that have sprung up recently? Unlike the vast majority of the people who populate the sector, Kaplan is worthy of respect. 

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