CGX

The Canadians are coming, Barnaby Joyce.  But you won't hear a word from him.  He only fears Orientals.  Somehow, Orientals are far more dangerous to the Nationals than lazy and arrogant Europeans or patronizing Yankees.  The Japanese and Koreans are just tolerable provided they don't intrude into farms.

This AM, I learned that there is a scrip-only take over.  I am not crazy about that as it means I have to deal with a Canadian stock.  When it comes to gold, it does not matter which stock exchange the stock resides in.  The POG is the same worldwide.  So why would I want to have issue with a foreign investment?

That means I won't get the full premium.  However a rise of over 35% from Aug 2010 isn't a bad outcome at all.  When a takeover announcement is made, it sometimes takes 6 months to a year before you see the implementation.  But in the meantime, I hope for another bidder to come in.  This one is a friendly takeover so nothing else might happen.  As usual, I feel the premium is not adequate but there are many short-term investors who are happy to take profit and run.

Did anyone notice that the share price of CGX had already been running very recently before the takeover announcement?  How can there not be insider information?  Bastards!!!