RE: RE: PDAC Thanks to Steeler07 and Bobby44 for sharing their conversation with Ken B and Dennis M at the PDAC.
My take on the change to the mine plan that caused the delay and the reduced production is that for Ken B and crew, this play is the very last in their careers. Now Ken B has some 2.1 mil shares plus options. GCE got bought out at 1 bil. and applying that to CMK would put the SP at around $5. Would Bates be 'satisfied' with this exit package for the decades of work? Would this be enough? Who is to know for certain, but perhaps he believes that he has something more valuable in NECC and wants to fully realize the value for himself. Wouldn't any one of us not do the same perhaps, especially if this is the last play?
Pure speculation on my part, but perhaps they did receive some buyout interest and just perhaps those numbers were too low. If this is true, perhaps they opted to change the mine plan to expand the infrastructure, install another portal to access more seams, to put in the ground work for a 3-6 mty mine. All this for a much bigger buyout number. Just perhaps. Was this the right decision? I guess time will tell.