Breakup fee is $85 million. Subtract the ~$70 million in the till, and it's not much
I'm in at $4.88, so not a 10 bagger. (although about a third of my shares qualify). I've done well enough, but i don't see any reason for the project to sell for small money.
Why would you get rid of a derisked asset while it's still appreciating? We're not out of money. There's a MRE and PEA coming and as I said, there's somewhere around $70 million in the drawer.
Yes, I realize there's no resource published yet. But imagine you're three weeks from graduating Harvard, and someone offers you a job for short money because you "don't even have a college degree".
Add to that, that with or without a formal resource, all the majors have had their own people in the core shack. They have their own geos and modeling software. At the moment we're trying to determine whether the MRE's going to be published at all now, but for sure the suitors know what's in there.
Yes, if there are no other bids, there will be people who want to take the Kinross deal. Right now we know they represent 20% or about 12 million shares. They need 67% or around 41 million shares to carry the day. I don't imagine I have the power to sway that with a no vote, but I think there will be plenty of others.
In an interview at the Metal Investors forum, Chris Taylor said, "Sit back and watch the show..." so we're hoping there is one. I hope your popcorn doesn't go to waste.
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