They also called me and told me in a cheeky Russian accent that I should have bought this stock instead of Lakes Oil.
So Nordgold sends out a 15 page or so glossy booklet outlining their offer and Shandong sends out 2 A4 pages in B&W stapled together. That’s a much more significant expense on Nordgold’s part isn’t it?
By the time I received Nordgold's glossy publication (x 2 because my CDV holding spreads over 2 separate accounts), Shandong had already outbid them. So a big waste of time and expense it was.
what do you make of that if anything? Poor preparation on Nordgold’s part? Just unlucky? Situation normal in these cases? Maybe a bigger commitment to come? Or suck up the expense?
I thought the delay may have been due to Auspost snail-pace delivering to regional areas. But then I started to wonder why they bothered at all? Of course SG was going to counter, so the glossy print would never have mattered. I put it down to either Nord being caught with their pants down in a moment of arrogance, or strategic PR to try and appear committed enough to turn Shandong off another counter. Not sure which one?
Well, this has played out well. This morning's counter-offer at $0.90 by Nord is at the top end of the expected bid-range. Currently >50% return in 10 weeks - equivalent to 270%pa RISK-FREE. Shandong will hopefully raise from here, and returns will get even better.
Here's to another good week - these markets are throwing cash at participants. My best trade this year - a 2-bagger in 4 days . Equivalent to 9125% pa. : On Tuesday: . . And today: .
Just speculated on SVLOB........get out while you can because whenever I buy a stock....the only way is down, down.
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