Raising MoneyLooks like we are going to raise the money to meet the 20% option. That will cover all the options above it. The timing is about right for Elmer's speed. This will time with the BFS and the Teck Tock. It will force them to act. It does not precluse a buy out. The buyer would simply get the deal included. It should cause those standing on the side lines to think twice. Do they want that deal or do they want to use their own money and resources.
I think we have had informal discussion about price and none of those made us happy. We cement our resolve buy preparing to mine. This may not be the ideal situation for Teck but we can say they had their chance.
https://www.antofagasta.co.uk/home.html will beat everyone to the punch. They are getting rid of Pebble and are on the hunt. They examined us in 2008 and should be back shortly. I expect them to hold their cards close but I think it's a perfect fit. There's a connection to Elmer in a broad sense via Chile. I have no doubt he is aware of their operations since he is also involved there. Time is/has run out for an outside bid. Let them explain that to their share holders. Any bid for us now would come from friendlies.
Let's not forget that a Mini allows us to
disclose any undisclosed info like higher gold and moly counts. Ie. where are the results. It's rumored that our lab is backed up 7 weeks. Where does that put us for results. Sure, cores are coming in but in a broken fashion so they are sending them to us in parts. Clearly, we have used this in conjunction with the Titan to place our drills. But, without the whole core there is room for error. Elmer would have to make a judgement call and I bet he's right on the mark. Elmer doesn't miss very often. I'm expecting up to 5 g/t au and up to 2% cu. Our assays pending will show improved results and verify what we already knew but the next round of drilling will wow the crowd. HAS16 is an extension of what was reported. The geology suggests that drilling through the sheet is going to produce a big hit.
Given our new manouver and the rush to drill I think the outsiders have made a horrible mistake in not offering a real price. This will dawn on them soon. We should get 3 more attempts by way of informal discussion but those will fall flat. Next week should bring a hole in. It won't wow us but it will support the increased size. The hole that follows will support this post. I expect it in early Nov. Could come sooner but better that it doesn't. It will show us what's in the brechia zone. It will silence the kibitzers.
Elmer is a creature of habit. None of this manouvering should surprise us. He's steering us steadily towards a mine. I would expect talks to get serious but I don't blame the Chinese for walking out in a huff if that occured. But that tactic won't work on Elmer. He's been around the block too much. (tire tracks up and down his back tell us where he's been). LOL. Any Chinese talks will have to go formal and we must be notified. It would not be legal for Elmer to have these talks and not notify us but for expedience sake I would not complain. Sweep the floor so we can get on with mine building. You may not like that idea because of the time involved but the suitors will dread it. They get to watch billions walk away because they didn't man up.
Oct 26 the sp is going to go up. Nov 15-20 a major development becomes public. First week of Dec things get heated. Second week of Dec we get a formal offer. There's a bunch of stuff in between as Vette has pointed out. This week is about the last chance for the losers to cover then things get crazy.