But give me one example of a company like teck that paid 650% premium of the current share price for a jr.
Give me 1 example of another company like CUU (insider ownership, asset, agreement)..
But, what ultimately can’t be missed in this story is the price paid by Teck to acquire their position. Last May when the ball began to roll on the Eagle Plains/Providence JV, Providence stock was languishing at a $0.10 level. By the first week of December, when drilling updates started to pop up through favourable press releases, the stock surged to $2.70 from the $0.37 level it was at to end November. That’s a massive jump, with the lowest drop since being a dip to $1.60 prior to Christmas. Today, the stock is trading at just under $2.
Thus the implication given by Teck’s payment of $4 for a $2 stock proves that Teck has seen enough data to warrant the confidence us outsiders only could previously speculate up to this point.
