Macro Tsimmis

intelligently hedged investment

SELL LionOre Mining International (LMGGF)

Posted by intelledgement on Fri, 15 Jun 07

It’s all over but the shouting.

As it has become evident that no additional offers are forthcoming to rival Norilsk’s all-cash C$27.50/share offer for all outstanding shares of LMGGF, we are taking advantage of the support offer announced today by the two companies to conveniently tender our shares and save the commission on a sale. Since making their offer on 23 May, Norilsk have aggressively pursued regulatory approval for the merger and obtained it in South Africa, Botswana, and Australia, where LionOre’s main operations are located, as well as several other jurisdictions. No point in waiting around here any longer when other opportunities beckon.

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