Oblivion 's Profile
Oblivion 's Posts
I believe this to be very good news. The MDRM's remedial work must be going as scheduled or at the least, very close. Hopefully the APO will move quickly to remove the suspension when the work is completed. The earliest date is less than 10 days away.
If Management is shopping around for a buyer, it's quite possibly shareholders will be treated to some lowball offers before anything serious comes around. My two cents worth.
IIROC Trading Halt - DGC
TORONTO, Feb. 18, 2014 /CNW/ - The following issues have been halted by IIROC:
Company: Detour Gold Corporation
TSX Symbol: DGC (all issues)
Reason: Pending News
Halt Time (ET): 3:13 PM ET
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada(IIROC)
IIROC Inquiries 1-877-442-4322 (Option 2) - Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.
Copyright CNW Group 2014
Paying off debt. Let's see how the market reacts to this tomorrow.
Detour Gold Announces C$150 Million Bought Deal Offering10 minutes ago by Marketwire Canada - NFD
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters, led by BMO Capital Markets and RBC Capital Markets, under which the underwriters have agreed to buy 16,220,000 common shares of the Company ("Common Shares") at a price of C$9.25 per Common Share, representing aggregate gross proceeds of C$150,035,000. In addition, the underwriters will also have an over-allotment option exercisable at any time until 30 days following the closing of the offering to increase the size of this offering by up to an additional 2,433,000 Common Shares for additional gross proceeds of up to C$22,505,250. The Company intends to use up to half of the net proceeds of the offering to reduce short-term debt levels and the remainder for working capital purposes.
Closing of this offering is expected to be on or about March 7, 2014 and is subject to certain conditions, including but not limited to, receipt of all necessary securities regulatory approvals (including the approval of the Toronto Stock Exchange).
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
About Detour Gold
Detour Gold is an emerging mid-tier gold producer in Canada. The Company is ramping up its 100% owned Detour Lake mine to a long life, large scale open pit operation. The Detour Lake mine has proven and probable reserves of 15.5 million ounces of gold.
Let's see if the uptrend continues.
Charts for Detour Gold Corporation (T.DGC)
$ 9.92 H
0.03 (+0.30%)
Volume: 3.77m
3:13 PM EST Feb 18, 2014
6 Month
Line
OHLC
Candle
Area
Intraday
5 Dy
2 Wk
1 Mo
2 Mo
3 Mo
6 Mo
1 Yr
2 Yr
3 Yr
4 Yr
5 Yr
10 Yr
The deal was done when the SP was considerably lower. $9.25 was very good at the time, considering the SP then. I don't know how the market will react but I see this as a positive.
Goldcorp represents a giant boat anchor. Me thinks another white knight could be along the way. This is an excellent asset.