Working on the Exit Plan AlreadyGreenstone and Mangement have a plan A & Plan B. With the USD$8.0 financing raised, they will buy the SM Claims for USD$6.0 million asking price. The world Cu market is predicted to be extremely strong going into the coming years, and exploration plays in Chile are scarce with no new discoveries for over a decade. Greenstone will likely sell off Coro Mining with its exploration claims package and not do any drillings on SM.
LIke the deal with the White Spot land in Vancouver that was sold to a Hong Kong listed company recently for C$245 million. The land was assessed 2 years ago for $50 million, and recently re-assessed for $100 million. The White Spot Company has the building permit drawn up for 3 residential towers, but chose to sell to the Chinese for a huge premium due to the hot condo market without even putting a spade in the ground.
Greenstone is doing the same thing to extract a good premium for its chilean grounds. Why Greenstone doesn't engage or hire some major Investment Bankers to solicit sale leads me to believe it has already spoken to interested buyers, and/or Greenstone is contemplating doing a LBO deal itself.
Greenstone has been putting the boot on the neck of Coro Mining stock to prevent it from going up so it won't upset the apple cart.