GREY:JNRRF - Post by User
Comment by
megphion Aug 22, 2003 12:40pm
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Post# 6345060
RE: Unbelievable
RE: UnbelievableI also believe Rick is hesitant to release any information on the progress of negotiations because of what happened with the Roughrider group this past winter. Unless it is a deal with a major, I don't think he will announce a deal unless he is holding a cheque in trust.
I do believe he is holding very advanced discussions with a group wanting to do a PP and the amount of money being discussed is 3 to 4 times what he was looking at from Roughrider. This deal, if it happens, would require a consolidation. I also believe that there are two majors discussing possible deals with him, that would be in the same range or bigger than the deal signed with Kennecott several years back.
The moral of this story is we have a deal before October 1.
And speaking of insider buying, we should look at Wolverton. They've been on the buy side quite a bit in the last week. One of JNR's directors, Tracey Hurley, is formerly from Wolverton and probably still has many contacts there. It will be a nice ride into Christmas holidays. Let's enjoy!!