RE:RE:RE:RE:RE:Future Share PriceSure, it is sort of a stalemate right now in terms of negotiations. Acquirer shareholders would expect say a 50% premium above market price = around $2 USD a share. WRN shareholders are approaching it from the perspective of 50% of NPV given an updated PEA with higher NPV values.
Right now we are (and have been for many years) in the kicking the tires phase of negotiating. The parties know each other and where they stand. What could spur some action would be for an acquirer to make a formal offer. Lowball as it may be, it will at least set a baseline and get others in on the action. This could start occuring by end of the year once the new NPVs are officially presented to the public.
Let's say $5 a share is offered, it would be rejected, but now the public knows that the shares are worth more than the formal offer. The only reason acquirers aren't making formal bids public is because they all fear the ensuing bidding war. This reminds me of bidding on Ebay. Anyone familiar with that? You have an item you are craving to acquire and the bid starts at 99 cents. Often times, bidders won't join the bidding in the middle of the auction as all it will do is raise the ultimate price paid to purchase. They wait until the very last moment and jump in and try to win the bid just before the clock runs out. If you know Ebay, you know we are in the 99 cent early bidding period. Patience will pay off once you fast forward to the end of the show.