GREY:LCPRF - Post by User
Post by
Mining78on Jul 04, 2014 8:02am
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Post# 22715526
Copper M&A: Lumina Copper Hits CAD10.36 - Is Another Bid...
Copper M&A: Lumina Copper Hits CAD10.36 - Is Another Bid.....
.Coming For Taca Taca Now?
as we have seen before this kind of price action in Lumina Copper case can tell us that something is going on. It can be the simple arbitrage play by the big guns, but the market cap of Lumina copper is already higher than the calculated at the announced acquisition price by First Quantum Minerals.
The announced price was CAD 470 million. Lumina Copper has 46,978,235 Fully Diluted shares, price at CAD10.36 gives us already CAD 487 million! I do not think that it is bet on rising Copper price or rising First Quantum share price - you can more safely buy the First Quantum shares in that case. Somebody thinks that Taca Taca can be worth more...
https://kirillklip.blogspot.co.uk/2014/07/copper-m-lumina-copper-hits-cad1036-is.html