"A tender is likely on the way. I doubt it will be much above a dime, if that. What do you think?"
Beth they have two years to buy the stock up at/in the public market. Why would they make a tender offer NOW that is a multiple of the market price? They can be patient and they can buy slowly so as to minimize the price increase caused by their purchases and tender for the remaining outstanding shares down the road.
Effectively they have control of the mineral deposits now and for two more years.
I also see a tender offer for the whole enchilada however when I think of the whole enchilada I am thinking of the ADL properties, CDCH and LDM. I don't know exactly what CDCH still has left after Senor JJ ripped them off but what I do know is that the purchase price for what they do own will be substantial in order to make up for the theft. LDM was always an insider deal and Chapin will do just fine when it's all said and done. I do tend to believe that once JJ is out of the way permanently the offer will come in and if it's less than a dime you will see a mutiny of The large shareholders in an effort to derail the offer. 10 cents is just to low for a property this size and with this amount of potential.
When I am feeling good about this investment I just go back and think of where we would be had our fearless leader chosen Auryn/Volcan in the first place almost 5 years ago. That always brings me back to reality. Opportunity lost
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