At the end it was a three way deal Gold corp Thompson creek metals and terrain metals t r x Went from a low 8 cents to a buy out price of 1.58
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Sure sounded spectacular so I had to dig into it and see what really happened. Information on Terrane SP is tough to find due to delisting and a pharmacutecal co using their old symbol.
The market was much better back in Sept 2011 than now. If we are trying to make this an analagy for SC, we should know what we are comparing. Also, I couldn't find an 8 cent SP for them. Here some info gleaned from the AG hub.
Here is a snippet from a NR posted on the Agoracom Terrane hub at the time of the announcement ( http://agoracom.com/ir/Terrane/forums/discussion/topics/430380-ahhhhhhhhhhh/messages/1408975#message ):
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"Thompson Creek Metals Co. (TCM-T9.41-0.49-4.95%) Inc. is diversifying beyond its traditional base of molybdenum with a $650-million deal to acquire a junior miner with copper and gold assets.
Thompson Creek, which has executive offices in Denver and trades on the TSX, said Thursday it will acquire Terrane Metals Corp. (TRX-X1.350.1815.38%) in a cash and share deal that values Terrane at $1.41 per share. That's a 35 per cent premium."
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and another from 20 months before the buyout in December 28, 2009 ( http://agoracom.com/ir/Terrane/forums/discussion/topics/392479-will-goldcorp-buy-out-terrane/messages/1301600#message )
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"Regardless of the outcome of the Canplats deal, Goldcorp is unlikely to walk away from Mt. Milligan. If the Canplats deal falls through for Goldcorp, Terrane is an especially important deal for the company. Terrane Metals shares were trading at C$1.53 mid-afternoon."
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and one last one showing expectations January 2010 vs what happened ( http://agoracom.com/ir/Terrane/forums/discussion/topics/397705-john-doody-on-terrane/messages/1317836#message ):
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"Recommendation to buy anywhere below $1.00. This range is close enough for me to nibble. Still sees $2.50 intermediate term and $3.50 approx. two years out."
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So what I see from this is there was expectation of $3.50 buyout, Terrane SP was $1.53 20 months before the sale and the sale closed at $1.41/share.
Not quite the 20x premium cinderella story, eh?
