Market reaction tomorrowI expect flat to a hopefully slight drop. Hard to see it going up when this hole was a lock between two other solid holes. This was probabaly already baked into the price. Very modest release and nothing new. It seems pretty clear this deposit will be mined in the future or Freeport would have left a while ago.
Makes sense to cut back on drilling and analyze results as there are a lot outstanding. Also makes sense to pull rigs to drive price down and keep the buyout in a manageable range. Anyone think another suitor may emerge at this point? Can RMC sell to BOR for example?
Or are we a the whim of Freeport?