This is example # 2, the lowest price per OZ paid by far of the 4 examples, however, they had the largest reserves by far. Even though it's the lowest paid by far, it still proves out to be much higher than the posts we saw on last Friday ($40 - $60 per OZ)
We have discussed this story quite a bit on this board, and this link is well worth watching, if you have 4 minutes to spare. Many seemed to think, they should have held out for a much higher offer?
Company:Aurelian
Year:2008 (Aug)
Buyer:Kinross
Gold Price:$825
Takeout Offer: $1.2 Billion ($1200 Million)
Gold Reserves:13.7 Million OZ
Price/OZ Paid:$87
Shares O/S:145 Million
Share Price:$8.20
SLI Equiv:$9.60 (this is based on the offer divided by 125 Million O/S shares for SLI)
