IKN

untune that string and hark

Kirkland Lake (KL) has been decimated by Detour Lake sellers

Do not say IKN didn’t try to warn you.

The day after the deal was announced (and with $2Bn already wiped off the fantasy of a ticket price), IKN published “The chilling effect of this ill-conceived Kirkland Lake $KL Detour Gold $DGC.to deal is bad news for the mining sector” which included this:
“What we have witnessed yesterday and today is the destruction of
goodwill at KL, over $2Bn in bets that “this time is different” and KL
would remain a low cost, high margin producer have all lost. Money, by
the way, that only ever existed in the imagination of KL longs who fell
for the ruse. Welcome to reality people, KL yesterday stated for the
record that its future is the same mediocrity as every Tier 1 mining
company.”
In the post “Makuch’s bullshit on Detour”, dated November 28th, this:
“…double-talk from a weak puppet of a CEO who does not have executive
control of the company he pretends to run that has annoyed people who
like money more than gold. And that’s the worst part of the words that
tumbled out of his mouth, as he knows it’s a lie, the reporter knows
it’s a lie and anyone with an inkling of the sector knows it, too. All
Makuch is doing is giving a nod and a wink to his owner, John Paulson.
Plus the fact that the whole “will/won’t it close?” question is a false
dilemma, ain’t no way this deal is voted down.”
In the post Kirkland Lake (KL): “Money talks and BS walks” dated December 13th, this:
“All the column inches in the world can’t disguise the bloated wankery
behind this deal, Paulson wants his print and the DGC BoD get their
juicy change of control bonuses. And the mining industry stubbornly
refuses to grow up. And if the biggest and splashiest deal of the year
is based on scratch-back dealmaking, may the good Lord help the rest of
them.”
John Paulson has played Kirkland Lake (KL) and its shareholders like Itzhak Perlman plays the violin.

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.