RE: bad deal for HBM shareholders...LUN is a total basket case. Neves-Corvo is suspended. Aljustrel never even made it to production. Ozernoye is a total wipeout. Galmoy and Zinkgruvan have to be losing money. Aguablanca is losing $. Tenke is over budget and still subject to the mining review by the DRC. Are any of LUN's mines making money?
Hard to see why HBM would be buying LUN for a premium. LUN was headed for BK. By year end they were destined to be trading in the pennies.
To make matters worse, Katanga just announced that due to low Cobalt prices that they are suspending Co production. Doesn't bode well for Tenke, which is what I presume is the reason HBM was interested in LUN.