GREY:NATUF - Post by User
Comment by
lurkeroneon Mar 31, 2009 1:14pm
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Post# 15884811
RE: RE CANTUNG
RE: RE CANTUNGI agree that this is a huge takeover target. Have a look at CLM trading in the mid $2 range. One of China's largest steel producers just made a $240 Million investment for 20% of the company (and 25% of the operating company of the Bloom lake mine) That $240MM for 20% represents an $8/share price or values CLM at $1.2 Billion when its trading at a market cap of around $300 Million.
Deals are being made. Capital is still out there. I don't see it as a stretch to see a similar kind of company come in for 25-35% of Mactung for around a $75 Million investment and that would cover the equity portion of borrowing the CAPEX for development. No dilution. Thats all it takes is a big JV partner to come along....
lurk