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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 Jun 15, 2016 12:13pm
96 Views
Post# 24967599

RE:RE:RE:RE:RE:RE:News out from XGC....

RE:RE:RE:RE:RE:RE:News out from XGC....Many companies are unable to move at the pace that was required once the ROFR was triggered by the LUN deal.  Any discussions that were done prior to that time were done under a different dynamic and there was no sense of urgency whatsoever.  Once the ROFR was triggered, the clock was ticking and the bigger companies probably could not move quickly enough.  The NSU deal is the one that was inked in the 60 day window.  What I find surprising is that the more nimble companies did not seek to preempt the deal (although the $20M break up fee is tough to swallow).  If it is not approved, there is more time to negotiate with other suitors, there is a stake in the ground vis-a-vis Timok's value (the NSU deal price, Haywood, etc), and the $20M break up fee goes away.  I do not find this to be a horrible position, even if the share price slips a bit near term.
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