One of my fears
Pick a number. If Barrick came today with an offer of $0.40, or even less, what is there to prevent a majority of shareholders from accepting it? Not much, except the hope Oceana offers $0.45. There's no guarantee Oceana would. I guarantee Waterton would accept. Tocqueville? You never know. Unfortunately, there's no shortage of shares that have been held for 3, 5, or nearly 7 years, for whom either figure would represent a decent return, & they'd move on. That my friends, is why management has a listed objective of bringing on a third strategic investor. Having a third bidder is important enough that they'd do it at these levels.