So why did Newmont sell?I still don't get it, perhaps I am missing the timeline or some other reason here.
1) Newmont agree to sell on 8/31 at $1.6/share when it was trading at $4+ half of the month?
That just does not make sense.
2) Or was it Newmont sign the sale agreement back in mid-July when share price was around $1.6, and choose to announce and conclude it on 8/31?
Such long delay is unheard of.
3) And why would Newmont wanted out with such peanuts in profits? With such bombastic news and locals picking up tons odf gold nuggets, why wouldn't Newmont just wait? With extra 11 million shares in hand, taking out Novo would be much easier down the road if the discovery is indeed once a century.
Appreciate if anyone can shed some insights here. Thanks!