RE: Now what is happening?the key to the puzzle is to find out who sold that 350-400k block at 16 cents a week or so before the first news release as they know what the plan is.
I suspect that Vale has a a few silent partners (Dubai , Saudi) accumulating shares for them and then use the 6 mil shares they just bought to pound it down and accumulate more shares until their total plus chucks equals enough to swing a vote for an offer that most of the other shareholders would never vote for. Since they exclued the platinum assets it sure looks like a low ball offer will be coming.
When you want to sell your boat its only worth what someone else is going to pay for it. The premiums on jr mining shares have typically been a 30-35 precent premium on top of the average selling price over the last 90 days.
I have never met Chuck but I'd imagine he's sick and tired of all the Yemen BS and doubt he would ever put up his own money by himself to fund a copper nickel project. He might do it for the AL Harriqah gold.
Would Chuck take a 30-50 cent offer from Vale for the copper nickel project? He's not getting any younger and some of the most loyal CD shareholders have seemed to turn on him recently by the posts I've read here.
Shareholders would still have the Al harriqah and Neveda gold properties. Vale only needs Chucks votes on any offer and I suspect someone for Vale will be buying anything under ten cents until a low ball offer is on the table.
With the amount of shares Chuck has 30-50 cents is still a good payday. The higher copper & nickel prices are the closer to 50 cents.
Tell me how many $3-$5 premiums for a ten cent stock have you seen lately on mining stocks.......