RE: Nicely done PasskeyPasskey: interesting post as usual. CHD now has 299 million ( approx) shares out. RNG is now up to 58 million ( approx) so they are almost at the 20% level that theoretically triggers the dilution event as I understand it. I imagine the CHD was expecting this accumulation and had no choice but to implement the poison pill to prevent RNG's continued accumulation at bargain prices. I am surmising that the volume in the last few days is a reflection of the view that we are not far from a take out at a fair price either by RNG or some other smart copper producer that wants to get their hands on a great project. I expect RNG knows that when the metallurgy , feasibility study and financing reports are done CHD won't be trading at 66 cents. We will be closer to Tom Meyers ( Raymond James ) view on value of $1.30 or more since CHD will be that much closer to production and the aforementioned catalysts to value creation will be known. I was abit surprised CHD sold off a little today but a poison pill tends to scare off investors. This protection does nothing to prevent a take out at a fair value as I understand it so the for sale sign can still be planted on the front lawn. In the meantime Ulli and the Board have to carry on with bringing Marcona to production and not worry about being taken out.
In the meantime we wait for the next chapter to be written.
Coyote13