MH
Yes, for the reasons I listed previously...that Goldcorp will just add to their bid.
Other bidders know that Goldcorp can up their Bid...that in itself......will detract anyone from seriously entering a bidding war.
In other words...you can't simply offer 100 million more and expect to get a away with it. It would have to be substantial.....say 250 to 300 and even then...Goldcorp see the potential.
As it sits...PRB has to muster up and take the 526 and new probe co spinout.
I am not a big fan of this either.
One big positive...is the last 2 years and presented large miners with "cost of production" challenges. Coming out of this 1100 dollar gold has made better operators out of most of them...and this is important...if oil stays low. People will flee to the best balance sheets around and goldcorp...well god bless em...decent balance sheet.
Balance sheets will be dramtically different when gold hits 1400..because the net back will be even higher !!
Looking for oil to be rangebound...40 to 48 bucks U.S. Volumes of major gold companies are really picking up...even though the price of gold fluctuates....the flight into gold.
This will pcik up steam....in April / May with Q1 earnings .....looking very positvie in some cases. I think Agnico could hit 50 bucks !!
Take the deal...cross your fingers for new probeco...and enjoy the ride !
My 3 cents
Captain Time.
