FreeportIf Freeport had believed it could acquire RMC for less than fair value via a hostile maneuver it would have done so already. There are a number of obstacles in its way currently, two of which are 1) its status as an insider under SEC regulations because of the material information it likely possesses that it has not disclosed to RMC, its minority partner and 2) the leverage that RMC currently enjoys via control of the 100% owned permits and its likely on-the-ground relationship with the Serbian government that it has developed over several years time. The only way Freeport can make a hostile bid now is if it were to disclose all its material information first. Because RMC would then have to disclose it publicly virtually immediately, the share price very quickly would reflect the new information. Other potential bidders for RMC's interest in Timok would also know all that Freeport knows. Freeport would not and could not opt out of its obligation to sole fund to BFS in order to obtain the full 75% of the project as the additional 20% of the project it would lose to RMC if it did so is worth exponentially more than what it would cost RMC to fund its share of exploration and development costs. Freeport as the project operator may be a bully but it is not stupid. RMC's management team and Board have extensive global experience dealing with majors, M&A, mine builds, etc. Stated otherwise, Freeport is going to have to pay fair value for RMC. Because it is in Freeport's overall corporate interest to develop this project as soon as it can, it will reach a friendly agreement to take over RMC sooner rather than later. Then it can drill agressively, make disclosures and make further discoveries without fear of driving up the value of a minority partner who is free-carried.