Does anybody know why Teck wouldn't want to own 100% of SC in the event of a bidding war for their metals division?
No reason, other than having to pay Ernesto's insane price for the remaining 25%.
I don't think you're wrong, Golf...but I'm curious what you consider insane, what you consider fair value and what you'd be willing to accept as a minimum?
I've been through a couple of these in the past, but never where a single shareholder has controlled the sale decision. In most cases, shareholders overestimate fair value. In our case, the waste rock really blurs the lines and I can't help feeling that EE wants this value added back in and isn't willing to budge until it is.