GREY:COLUF - Post by User
Comment by
opeechee8on Nov 28, 2013 7:03pm
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Post# 21951588
RE:Is it at 0.32 now?
RE:Is it at 0.32 now?I remember following CHD (chariot resources) a copper mine in Peru. They didn't have the 600 million dollars it took to bring it into operation so they sold off to the Chinese for 67 cents a share. Considering that it was as low as 10 cents a share, it was enough to convince 66.7 % of the shareholders to sell so that the remaining 33.3% had to sell. If a company were to buy Colossus Minerals, imo, they would have to acquire 2/3 of the shares for as low as they can. Where the shareholders will see the most gains is if there are multiple groups interested in CSI including the chinese who wanted COOMIC and CSI got it. I would say it would be hard to convince 67% of shareholders to sell for too cheap. What we really need is a 43-101. We already know the tonnage of ore...we can assign a low g/t - high g/t and get an estimate based on that.