Dennis da SilvaCorriente ResourcesCTQ.TOSELLMar 29, 2010
Acquisition at $8.60 is in process with an extended expiry date to April 28/10. Probability of success is pretty high but if he owned, he would take the proceeds and redeploy it.
Copper and gold. Recently ran to $8 and now has a descending “flag” and in 90% of the cases you have a new high. Would use a stoploss below $6 or even below $5.50.
Has been for sale for 8 months. Generally in the market, slow news is bad news. Doesn't know if something is wrong here but all the other copper names have gone up more than this one.
Had a tremendous run and so he has no interest in it now. He wants companies that are out of favour. He looks to see that it is trading near the low end of the cycle.
Ecuador. 5 months of talks. Take out price will be between 9 and 10 Canadian. Other copper stocks have gone up 100-200%. The relative valuation has changed. Rumored to be a Chinese company.
Takeover candidate.Announced in December they were in exclusive negotiations with a 3rd party. Expecting it to be sold sometime in March. Solved most of their mining concerns in Ecuador.
Copper/gold operation in Ecuador. Quality company and have a lot of cash. Some pressure from outside groups questioning mining, but expect local groups will prevail.