Friday, 16 December 2016

Updates Sierra Rutile, American Farmland

Sierra Rutile

The 36 GBX merger consideration has hit the account yesterday. There was some hiccup in the meantime, but I just waited it out. Dams can be a serious issue for a mining corporation. Would be really interested into how serious Iluka was with going through with the merger. Was this just a way to get more cheap shares for some insiders? You can see the price drop in the chart.

12/6/2016: Announcement merger will go through

11/29:2016: Iluka: "non-satisfaction of the material adverse change condition"
"Iluka has also indicated that it will not proceed to closing the Merger on 29 November 2016, as expected."

American Farmland

At the time of establishing the long/short position for the blog, the situation was as follows:

American Farmland CoAFCO7.94-9.97%11.07%8.82Farmland Partners IncFPI11.89034.58%3/30/2017


American Farmland CoAFCO7.58-3.70%3.84%7.87Farmland Partners IncFPI10.74014.15%

As you can see, the spread has shrunk. I have exited the whole position for the blog. It is difficult to accurately reflect the long with short for the portfolio page. For now I will leave it out. 

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