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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 Meester954on Sep 08, 2015 10:11am
139 Views
Post# 24085076

RE:RE:RE:RE:Freeport Has 9 Drill Rigs On-Site Working

RE:RE:RE:RE:Freeport Has 9 Drill Rigs On-Site WorkingAs long as RMC has a right of first refusal (ROFR) on FMC's interest in Timok, it will likely have a chilling effect on the FMC sale process.  Why?  Because no large, sophisticated company is going to spend time and money evaluating something it cannot be assured of getting, even if it is the high bidder in the process.  Now once someone buys out RMC's interest (or teams with them), you have a very different situation.  If FMC sells, the winnig bidder will have either bought RMC's interest out at an appropriate premium or have an agreement by which RMC refrains from exercising the ROFR in return for something (not sure what).
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