MLY Holding mergerGMO is now at $8.27 on huge volume and possibly in merger talks of some sort:
16:27
Idaho General receives early indication of
interest; USD 10-12 considered to be fair
price
Story Idaho General Mines, the listed molybdenum
exploration and development company, has
been approached by multiple parties eyeing a
merger, sources familiar with the company said.
A USD 10 to USD 12 price tag is considered to
be fair value in the event of a sale at current
molybdenum prices of around USD 35, the
sources say.
David Russell, an Idaho General board director,
said he could not comment on whether
companies are calling or not but said it is pretty
rare in the market for something not to be
discussed. He agreed that a potential sale value
would be in that price range if not higher based
on the pre-feasibility study of the company’s
Mount Hope project, a primary molybdenum
property, located in Eureka County, Nevada.
Idaho General is also engaged in the
exploration and development of properties of
silver, gold, base metals and other specialty
metals. At the end of last year, Idaho General
acquired a second significant molybdenum
project, the Hall-Tonopah project, located in
Nye County, Nevada.