I agree Vette. Any mining giant considering a back in / buyout has to look at comparative transactions and integrate same into their negotiation thought process.
I believe going forward that copper and multi metal properties are going to be sold at a premium without precedent. Given demand and consumption burn rate, copper supply is due to move the price of copper much higher.
A growing group of respected analysts are also predicting significantly higher gold and silver prices as well.
Big mining companies look far into the future when assessing value. Large properties ... mining districts with long mine lives regardless of grade are few and far between.
Schaft Creek and surroundings are one. Teck bought a ton of property all around it as well. That is very significant.
Even base case properties in Canada will have much added value (not slight) due to the nature of issues that have stymied miners in other countries .. and that tainted country list is long and being brought to the forefront on an almost weekly basis.
That said, would you risk billions of dollars setting up shop in one of those places?
We are in a unique position here ... with large insider ownership and a built in bank.
Copper Fox Metals own a premier property. We have choices and options. We have completed Feasibility. Mission complete.
Other juniors don't have these luxuries.
It is not a secret that there is alot of inferred that can easily be converted into value. It is not a secret that trends haved been discovered that indicate that much more metal lies beneath within the confines of CUU property.
Teck knows it. Their competitors know it.
I believe Elmer and the directors know the value of what they have and will get what they want either through Teck, or someone else.
Furthermore I believe Elmer et al are reasonable people that will not be asking for more than they deserve.
In my opinion, offers of 1.50 or thereabouts do not make sense, and will certainly be scoffed at given realistic scenarios and comparisons, stellar mining jurisdiction, forecasted lack of environmental roadblocks, well nurtured relationship with native groups, all thats left uncovered on Copper Fox property, (more important than many are giving credit for) future supply / demand ratios, the bolstering economic outlook, and China's insatiable appetite.
That said, don't discount the value of a big surprise to the upside either. Too little has been said for too long. The cone of silence is deafening.
And heaven forbid if somehow Teck stumbles, shows a weak hand, and inadvertently sets off a bidding war.
I have been fortunate to be a part of all that. Share price rises can get irrational in this instance.
