Archive for November, 2010

24
Nov

Equinox Minerals bids for Citadel Resources

Equinox Minerals bids for Citadel Resources

Quest invested in Citadel Resources (CGG) in 2008 and holds around 5% of the company. In November 2010, Equinox Minerals (EQN) bid $0.105 cash and one EQN shares for every 14.3 CGG shares conditional on 90% acceptance (or 50% acceptance if achieved by 16 December 2010). As a result the CGG price leapt from around 40 cents to around 50 cents at the time of writing, delivering further gains to our investors from this stock.