Article from Post todayOn the front page of the Post today it was reported that a juniour -PGM-attracted a TO bid at a nearly 300% premium to market. More importantly, this transaction is happening at an early stage of development. The paper reports that the acquiring company did not want to wait for the total deposit to be proved up and be worth more.
Greg has long argued that the eventual sale price will be a function of value-not share price. I was very skeptical of that-it appears that perhaps he was correct. Hopefully this business model of buying early stage and not worrying about how much it costs catches on!!