Title : Makuch's bullshit on Detour
link : Makuch's bullshit on Detour
Makuch's bullshit on Detour
On finally getting to the G&M piece on Eric Sprott and Kirkland and Detour, your humble scribe discovers the biggest fun at the very end of the note and the part that quotes Tony Makuch more than Eric Sprott:
"Kirkland has no intention of calling off the deal, he (Makuch) said, or renegotiating the terms lower, but he said he might have changed the company's messaging had he known the response was going to be this negative."
That is bullshit. Certified, gilt-edged bullshit and not only that, the worst type of casual lie that comes out of C-suite mouths. For one thing, the fate of a near-$5B...ooops, make that "near $4Bn" deal is not decided by "messaging", it is decided by cold, hard cash. For another, perhaps the "messaging" being referred to here is that Makuch himself went on record last month (last freakin month!) and said that Kirkland would not favour quantity over quality, so in fact let's call this "messaging" brouhaha for what it is, double-talk from a weak puppet of a CEO who does not have executive control of the company he pretends to run that has annoyed people who like money more than gold. And that's the worst part of the words that tumbled out of his mouth, as he knows it's a lie, the reporter knows it's a lie and anyone with an inkling of the sector knows it, too. All Makuch is doing is giving a nod and a wink to his owner, John Paulson. Plus the fact that the whole "will/won't it close?" question is a false dilemma, ain't no way this deal is voted down.
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