RE:THE DOOR IS STILL OPEN FOR ANOTHER OFFER...I don't hear any singing yet.
FCX knows what we have or don't have in the lower zone.
Zijin, while this is a better offer and management friendly, it still arguably pays little to nothing for the lower zone which they are essentially getting for free as well as Bisha, as well as cash on hand, as well as exploration potential.
While this is better than Lundin, those that were too quick to pull the trigger the last time around left ALOT on the table for nothing because they had no conviction, possibly due to a lack of due diligence and bringing emotion into their investment.
Recall Nevsun's friendly deal with Reservoir in which they still had to ante up a nice chunk of change to seal the deal.
We're not done and neither is Zijin, they can pay more and should.
They may be forced to.
I'm hoping to see some big shareholder dissent.
SignorAnderson wrote: I will highlight...
Zijin is entitled to a termination payment of $50M if the definitive agreement is terminated in certain circumstances, including if Nevsun enters into an agreement with respect to a superior proposal, or if the Board of Directors of Nevsun withdraws or modifies its recommendation with respect to the Offer.
Read more at https://www.stockhouse.com/companies/bullboard/t.nsu/nevsun-resources-ltd?postid=28563702#5ZE7dfwthIIOtCBZ.99
While this could be the end the door is still open.
While it is clearly a much more reasonable offer than Lundin, it still heavily undervalues NSU as I have argued.
A 50 million break fee is not a deal breaker IMO if you want Timok.
So I don't think this is the end.
Zijin may still come out with the asset but maybe they're going to forced to add in a kicker??? Some shares possibly???
All IMO.
Long and strong was the play here so nothing has changed in that regard.
I'm holding because I don't think we're done yet.