I just wanted to send you a clarification about the Yamana Gold Flash Alert I sent you earlier today.
First off, the Brio rights offering will be a big plus for Yamana and – as shareholders – you will benefit as well.
But, the rights offering itself is really only beneficial if you are a citizen outside of the U.S. You cannot exercise in the U.S. unless you are a qualified institutional buyer.
If you want to sell the rights you can only do so with a foreign account that can sell it outside the U.S.
So, in essence if you are a U.S. citizen and a retail investor without a foreign brokerage account the rights will expire worthless.
Best wishes, as always …
Larry
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