Not under $1 per share
Every shareholder should know that an offer of USD 90 million (= USD 0.3/share) for 10.5 billion p
Cu eq (M&I) and another 6.2 billion p Cu eq (inferred) + probably another 4 billion p Cu eq on Sur
and Verde is not an offer to talk about. However, should such a situation arise, the question
arises as to why a third party should not enter a bidding war given such a low starting position. If
Fortescue wants the project, it has to take the competition into account. And if Fortescue wants to
be sure of getting the project, it has to have a sound strategy. The competition never sleeps.
Copper is on the up, demand is rising, supply is falling, everyone knows that.