Why would Freeport sell?Can someone explain to me why Freeport would sell this project if their 75% share is going to be profitable to their company and their shareholders. They are a copper miner and if if the project is going to profitable they are one of the groups that actually knows how to operate a part copper project. If the sell wouldn't that mean they don't see the profit potential?
As a shareholder of RMC I would be happy if this project sold and resulted in me receiving between $9 and $12 per share for my RMC holdings. I would rather have cash now than a massive project 5-10 years from now but I am a small investor not a huge company / investor like Freeport.
Freeport is large enough that even if they are getting a push from their investors they do not have to sell and would likely only sell it the sale is more profitable to them than developing the project in house. Why would another company make an offer the creates this scenario?