OTCPK:MSSNF - Post by User
Comment by
Countrygenton Nov 01, 2018 1:11pm
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Post# 28909021
RE:NCU
RE:NCU You have to hope somebody comes along with a better offer. Not so sure a thinly capitalized NCU issuing more paper is exactly my preference ... not the most liquid nor stable paper. Give me some Teck shares, or BHP ... but they could come up with a few more tens of millions in good old cash.
Net of cash in treasury this is pretty skimpy for an asset the PEA last year said at $3 CU and a 7.5% discount rate coughed up an NPV closer to $770 million USD. VERY sensitive to CU prices and discount rate, but as an option against worldwide copper tightness and a robust few years of high prices ... this is highway robbery, JMHO. Great jurisdiction, water, permits, advanced preliminary studies and drilling. More than $70 million or so sunk by ETG in acquisition and development ... so what is the rush to accept this now?
But the only way we will see an indication of a higher assesssment of value is another miner with cash in hand stepping up and making a better offer. Otherwise, HudBay snatches it. And probably a bunch of change of control packages are triggered for MNR peeps, which might explain some motivations in part.
cg