European Gold Share Discussion Threads

[mpclag] 19/12/2011 15:52

it is now directly linked to ELD shareprice hence the drop

[mcmather] 19/12/2011 14:52

ELD down nearly 10% and this aint doing that much better.

[foot in mouth] 19/12/2011 12:17

Well, the RNS says we shareholders will vote on the Eldorado tie up sometime in Feb. That gives plenty of time for another party to come in with an enhanced bid. Nice.

[mpclag] 19/12/2011 11:37

I don't think there are many uk investors and they certainly don't believe this deal will happen-How long before toronto se opens?

[mcmather] 19/12/2011 11:15

Lets see what happens; Eldorado has been as high as C$21.95 in the past few months (52 weeks) *0.85 (ELD share for EGU share) / 1.61 (C$ / £) = £11.50 ish?

[mcmather] 19/12/2011 08:00

£1.55bn mc?

[mcmather] 12/12/2011 22:38

Awaiting further news regarding takeover approaches from third parties, Torontolisted gold miner European Goldfields glittered at 825p, up 23.5p. Canada's Eldorado Gold Corporation has been tipped as a possible bidder.
Read more:

[manics] 12/12/2011 13:45

Was over £10 at permit grant.
Now at £8.50 with permitting, increased reserves, full funding, and multiple interested suitors.

Has a lot further to climb than £1.50.

Goldman Sachs taking us to mainboard too. More news early in the new year after the shareholder vote as conformed by EGU Investor Relations (see my post in this thread).

[mcmather] 12/12/2011 13:24

You may well be right nick - just my 'strategy'.

[nickieg] 12/12/2011 13:19

£10 is much too low. Needs £12+ for a take out. Bids likley to come in before meeting on 22nd to vote on Quatari deal.

[mcmather] 12/12/2011 12:58

Spam.

Hopefully interest will continue over in canada later this pm. Anything around the £10 mark and I will likely scarper at that point.

[mpclag] 12/12/2011 12:50

I hope your right!

[foot in mouth] 12/12/2011 12:23

Obv I meant to blow further!

[mpclag] 12/12/2011 10:49

it already has I thought?

[foot in mouth] 12/12/2011 10:25

Looks like she's gonna blow!!!

[mpclag] 12/12/2011 08:08

spread showing at 35p!

[foot in mouth] 11/12/2011 14:42

Canadian suitors sound out European Goldfields over potential takeover
The Sunday Times

European Goldfields has received a bid from Canada-quoted Centerra Gold, after the latter's domestic rival Eldorado tabled a preliminary offer last week for the £1.4bn miner listed in London and Toronto.

Separately, Australia's Talbot Group, which is seeking to divest its 59% stake in African coal firm Minas de Revuboe, has named Anglo American as the surprise preferred bidder for the majority holding in the $1bn undeveloped deposit in Mozambique.

[mpclag] 09/12/2011 20:30

not really -just pricing in worst case that all mines and costs will be fully funding-upside is a decent take out price. Its what we call a win win situation.

[foot in mouth] 09/12/2011 14:12

Nice to see this rising on a daily basis. Does this mean the market is pricing in a bid???

[manics] 08/12/2011 09:21

I would think so. I'm expecting to get an understanding as soon as next week as to what value Eldorado (or "the suitors") are placing on EGU.

Remember, if all this comes to nothing....then Goldman Sachs will take EGU in the state I described above away from the AIM onto mainboard, forcing fund & institutional buy in.

So either way EGU will be somewhat higher than it is now come Feb / Mar imo.

[foot in mouth] 08/12/2011 09:13

Surely any suitor must come out between the leeks before the 22nd of December before the shareholder meeting to rubber stamp the Qatari deal?

[manics] 08/12/2011 08:59

It isn't.

Qatari deal was announced with EGU sub 600p, the deal took it to 700p we are now at 800p.

Greek permit awards however carried EGU to £10 earlier this year. EGU feel back because the market didn't think funding would be available.

So we are now at 800p;
-with full permitting
-fully funded
-with gold at $1740
-in the midst of a "bidding war" for the company


I think EGU has much further to run.

[mpclag] 08/12/2011 08:13

I wouldn't sell any! The share price is not even back to where it was when the Qatari deal was announced-In fact its well short of where it was

[foot in mouth] 07/12/2011 09:37

I sold half just now for a nice profit (first one in ages from share dealing). I'll let the other half ride in to next year....................