Takeout of TCM (soon)?
IF the bidding process is, in fact, underway and if it is successful, I would imagine that any bidder would have to bid for all of TCM and not just the gold / copper property in BC. It wouldn't make any sense to leave TCM with the Moly properties only, with Moly (and steel) doing so poorly these days.
As recently as late April, TCM was at 0.66, on the basis of its merit as a going concern - shuttered Moly assets (for the most part anyway) but a PRODUCING gold / copper property in a safe jurisdiction, which is highly sought after by mid-tier producers (the mine is too small for the larger producers, IMO) who are having great difficulty even FINDING new gold deposits, never mind getting them into successful production. Also, gold prices have been rising lately (including again today) so that will definitely help the sale price as well.
I am not sure if a successful bid will come in but if one does, I would expect it to be for at least 0.70 per share.
Thoughts?
BB