RE:RE:RE:Buyout questionFirst of all, management is not committing to a date. I've asked, so I am inserting my own estimate. March is certainly early 2018 but I don't see it any earlier, not even close.
At this point, there are no drills turning that I know of and given the Christmas timing, it looks like January before drills start at the earliest We don't know the size of the drill program, but if it takes one month, plus one month turnaround on the assays, then you need time to prepare the resource estimate. March is an optimistic date actually. Again, we don't know the size of the drill program and we will be able to get more accurate with a time estimate when we see that.
DDKhrisna wrote: wilwal wrote: As far as disclosure goes, it is most likely you won't hear about negotiations until the BOD has an offer that it wants to accept or if it is a formal hostile takeover bid. If news leaks out and the stock starts to run, the Exchange will shut them down and they will have to disclose negotiations at that time.
People need to calm down on buyout speculation so the disclosure issue isn't relevant at this moment. It's not going to happen tomorrow.....and for good reason. FAT doesn't know what they would be selling and the buyer doesn't know what he is buying. There just hasn't been nearly enough work done on this yet.
Note that LIX delivered a shovel-ready project. That is the typical point at which a company is sold. There are no rules, but most miners want to buy something that has a Feasibility Study. Then both sides have a good idea of valuation. In the LI business, there is a lot of supply anxiety out there so a sale could take place anytime soon after any 43-101. FAT is probably looking at March for the maiden resource report.
Anonxmas wrote: This might be a little naive, but I’ll ask anyway.
If FAT had offers on the table, would these offers be discussed at the AGM and therefore become public knowledge?
Part of me would say any offers would have non disclosure clauses etc, but part of me wonders if we may at least get a little more info.
It’s just a thought I’m pondering and wondered if anyone with knowledge on buyout offers and AGM disclosure etc etc could answer for me.
Thanks in advance.
But wait Wilwal, why March? Didn't management say early 2018?