Re: Teck sells another asset
in response to
by
posted on
Oct 07, 2015 04:10PM
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%)
Actually HH and Golf, you are both correct. It does make for an interesting conversation. Has anyone seen a project bought up at a price that is higher then a companies share price? I can't think of one right now. But I also haven't seen a company with such a high insider ownership give up things cheap.
For instance say the numbers show SC is valued at $1.2 Billion(Just picking a number). But our share price is .16 a share. Normally you could do a take over and offer to all shareholds say .32 which is a big premium and just take the company over. But since EE and insiders hold the majority, they would need to set a price that makes them agreable to selling off the entire company. Are the insiders willing to fold up shop for a multiple of our share price or do they just sell off the property and keep chugging along?
That is what makes sticking around here so much fun.