Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
• On August 31, 2010, GGR and Kodiak Exploration Limited (TSX-V: KXL) announced they have signed a binding definitive merger agreement. According to the agreement, Kodiak will acquire all of the outstanding shares of GGR by issuing 1.2 shares of Kodiak and one quarter of a Kodiak share purchase warrant.
• The acquisition price reflects a premium of 40% for GGR’s shares based on the 20 day volume weighted opening price of GGR and Kodiak shares
