Spock-ulationThe company is in buyout talks.
Nova and Tech or Chinese and Teck.
Nova doesn't have an exit strategy. Could they raise the 9 billion to start up their two projects? Copper Canyon is a bulking up. Stockholders known it and back it. Look at the chart from 2005 on. Read the history. Tech too. Two companies that made gross bulnders get lucky with the Golden Triangle. Galore sucks. Ramios,Copper Canyon and CUU shine! That doesn't mean Galore is a waste. No, far from it. This area entrenches these guys like a pig in a corn field. We all know where 10 year copper leads. The technical gap in supply can be moderated by prolonged global downturns but we see evidence in the emerging markets that this will be tempered.
I don't think Tech nor Nova are protected from hostile takeovers. They need to do much more. I could see Nova taking $17.50 and handing the reigns over to a more suitable player. One has to be careful these days of becoming too attractive. Fortunately, CUU is becoming strategic in nature and not just of local. The size does matter. Oh, look who the supporters of Nova are. Money is drawing the lines in the sand for what promise to be a very interesting battle.
tomorrow we will see uncertainty in the sp. Could be that a few more people head for safe haven but I think that will be quickly filled as this story is just catching fire. I woud hope that management takes the time to reflect on offers before making announcements.
I think they should make a quick deal while the poker is hot. No teck or Nova style errors please. They have less time than they think. Same for us. RG calls...oh, and I claim dibs