Re: Why would TECK walk?
in response to
by
posted on
Jan 08, 2013 09:40AM
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%)
Re: we are all blowing sunshine up our btts if we think the current share price will not alter or affect their decision in calculating the final buyout price.
This would be true except for the fact that we are 65% controlled by insiders. In a normal take over offer, they just need acceptence by the majority of the shareholders - so a % over the 3 month average share price works. However, Teck cannot do that to us because the insiders would just say no to any lowball offers. This is one of the big reasons that I'm heavily invested in CUU - we can't be pushed around.