Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Friday, May 04, 2007

Ka-Ching! More Good News for Red-Hot Asian Tigers

Coeur d'Alene to buy Bolnisi, Palmarejo
NEW YORK, May 3 (Reuters) - Coeur d'Alene Mines Corp. (CDE.N: Quote, Profile, Research (CDM.TO: Quote, Profile, Research said on Thursday it would buy Bolnisi Gold NL (BSG.AX: Quote, Profile, Research and Palarejo Silver and Gold Corp. in a transaction valued at $1.1 billion that would create the world's leading primary silver producer.

Red-Hot Asian Tiger subscribers have had Bolnisi in their portfolios for a while now, and it's paying off. But should we take the money and run or roll in Coeur (Bolnisi shareholders will receive 0.682 Coeur shares for each Bolnisi share they own). I'll explore that in the next issue of Red-Hot Asian Tigers.
That was a pretty good run. I think Bolnisi is undervalued in the offer, but eh ... what ya gonna do?

You can read more about the proposed merger by CLICKING HERE.

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