What are the chances of... What are the chances of a buyout to grab the 70% of Boleo Baja owns before the Korean's debt facility is enacted? Currently we still have the 70% and if we dont touch the money the Koreans gave us, we will hold onto that % am I correct?
I still think we have a chance in the next week of seeing a white knight offer up some sort of deal.
The current sp reflects the worse case scenario (we end up with 10% of the Boleo project), but is there still not a faint hope that a company like Rio Tinto, or any other miner who is looking to expand their copper production and has semi deep pockets might take a swing at us? I mean they can get a 90% complete 25 year mine for pennies on the dollar on what it might have gone for if we had proper financing.
I still cant believe we are in as deep as we are, Ive held my shares and now really dont see a point in selling, as my shares are in a RRSP account and Im not retiring any time soon. May as well wait it out, i rather go down with the ship than salvage pennies of what I paid only to see someone offer a buyout and risk missing out.
As they say, hope isnt an investment strategy - but at this point hope is all we have.
- Uber