Written by Peter Grandich
Monday, 10 February 2014 04:56
"I want those who own Sunridge Gold (TSX-V $.25) to listen carefully and to stop watching tick by tick (and contacting me tick by tick).
The agreement with ENAMCO IMHO has started the countdown for one or more bids for the company. SGC has made it clear that for the last several months a number of companies have approached them to the point that they engaged a Canadian investment banker to assist them with this. You can be certain that any and all of the interested parties needed to see this agreement before they could get into high gear. Here’s what I can say on this front:
The banker engaged specialized in mergers & acquisitions between Asian and Canadian companies.
The banker had specific experience with one or more of the interested parties and SGC’s deal with the banker sees the banker getting paid “only" on a successful deal (no big cash fees or expenses).
SGC’s CEO Hopley held high level talks with bankers in South Africa on mine financing but has now returned back to Vancouver specifically to hold face to face talks with interested M & A parties both in Vancouver and in Asia.
I believe the countdown to a deal has begun. I believe such a deal is going to have to be in the $.50 - $.75 area and the better the metals and mining shares behave, the higher the deal can be. The company will continue to do all the things it should do to move forward into production and if that ends up being the road versus M & A, it shouldn’t be a bad thing."