Takeover Almost AssuredRT will come in with an offer about the 3rd week of March (assuming our board that hasn't done much to date, actually plays a bit of hardball and resolves the 80/20 ownership issues). A carried interest until mining the joint venture deposit that is supposed to provide 20% of the deep profits to ETG is actually 20%, not minus 34% of the 20%.
ETG already gave up 80%.
If anything, at a minimum, RT should be picking up 80% of the 34% leaving ETG with 20% of the 34%, or 6.8%. That would be more than fair for ETG to offer as a peace offering to solve the wishy washy agreement. THe 100% owned lands are another matter but could be offered up as a carrot to resolve the issues.
So assume $3.60 a share minus 6.8% = $ 3.36 a share .
What will really happen
RT comes back with a offer of $2.00, all the while whinging that their petty cash account cannot afford more.
There will be a back and forth dance and about June 30th, the parties witl settle of $2.40.
Rock