Re: What happens after the deal is done?
in response to
by
posted on
Feb 22, 2012 05:21PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
Unfortunately EE's majority holding is almost like a double edge sword. Yes, he can dictate the price that he views as fair but he is also somewhat backed against the wall as the only way to monetize his position is for a buyout. That is, he cannot sell into the open market with the number of shares he owns. Nevertheless, he knows better than we do what is going on and yet he continues to fund the coffers. Hmmm, I wonder why. Perhaps because he knows we will get a buyout or why else would he continue to add to his already massive position? The phrase "follow the smart money" has never been truer than in this instance.