Squishy says:

Problem is they will be dealing with a very shrewed businessman and negotiator in CEO Don Lindsay who will also be damanding the same value for his money.

Correct. DL is a very smart man. Luckily he has the option to earn in up to 75% for about $240M. That is 75% of a deposit with a NPV in the order of $3B. $240M/$3000M = 8%. I think TCK shareholders would be pleased with that kind of move. The remaining 25% could fetch a killer premium for CUU Sh's and still be 'the same value for his money'

And I disagree that current share price has zero bearing on buy-out price, because the current share price is a reflection of the overall economy, the performance of the company, and the performance of the sector in which that company is in.

Partially coorect. The current SP is all of these things PLUS the uncertainty of a TCK earn in %. TCK will be making that go away very very shortly.

And it's those specific areas that potential buyers evaluate very closely when determining what they are willing to offer in current market conditions.

Actually, it is a lot more than that. They will consider the economics of the mine (TBA), the exploration potential (known to TCK), the longevity of the project and how many economic cycles it will bridge, the poly metalic nature of the project, lack of environmental concerns, relationship with FN's, permiting issues, access to infrastructure, etc etc.

When all of this is publicly laid out with the BFS, the world will know exactly what they are dealing with. The SP should adjust itself accordingly and then a premium may be applied to buying out CUU's portion.

jmho