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RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."


TSXV:RMC - Post by User

Comment by psj567on Dec 13, 2013 12:38pm
135 Views
Post# 22003633

RE:RE:RMC in Driver's Seat

RE:RE:RMC in Driver's SeatI don't mean to imply that RMC management would or should accept a $9 offer. Management has done a great job thus far and I have no doubt they will continue to do so. They too have significant RMC stock holdings. Maybe $9 is fair, maybe $20 is fair. Since only Freeport possesses all of the material information to make such an informed decision, we can only guess in the meantime. I  just can't imagine any other reasonable scenario for Freeport going forward other than to attempt a friendly, agreed-upon buy-out before it commences its agressive 2014 drill program. RMC as we know is free carried and Freeport is not going to force RMC to co-fund and give up the extra 20% of the project it will otherwise earn. The value and benefit of Freeport's work and drilling inures disproportionately higher to RMC than to Freeport.. Freeport is left with a Hobson's Choice. I believe Freeport will test the waters relatively soon with a friendly buy-out offer of RMC's Serbian interests. It can't make a hostile offer without first disclosing all of its insider information. Freeport is unlikely to disclose all of its insider information and risk introducing another producer into Serbia through that producer's purchase of and/or invetment in RMC's interests. 
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