NCM is under a takeover bid from Newmont Corp which we believe will ultimately prove successful hence we are looking for an opportune time to switch our 5% position in our Flagship Growth Portfolio to another local gold stock – because the bid by (NEM US) is stock-based the day to day swings in NCM are now largely determined by moves by its US suitor.
- Based on overnight prices, the deal is worth $27.70 for NCM shareholders.
- We like NCM but we are focusing our attention on when/where to exit our position.
MM is long and bullish toward NCM
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