RE:RE:RE:RE:RE:RE:RE:Takeout at $5 per share
"Now that I think about it, why is Eurosun even in the picture???? why not just spin out bisha and the cash in new entity to NSU holders?????????" -Read the NR, it's there :"Lundin Mining has been unable to successfully engage Nevsun in meaningful discussions after numerous attempts. Lundin Mining submitted its first proposal to Nevsun on February 7, 2018 and a further proposal on February 25, 2018, both of which were rejected. On April 3, 2018, Lundin Mining submitted a proposal to Nevsun to acquire Nevsun's European assets, including the Timok project, for cash and shares, which was also rejected. " So, when the SP was low and Bisha still in a recovery mode they tried to buy the whole NSU for approx. same money they offer now for their piece of interest. It didn't work of course. Later they tried to buy for (I think) something similar European assets only. But times were changing and NSU management knew exact numbers, increased recovery grades, production rates , etc. We didn't . No wonder LUN first offer came in in the beginning of February, just several days after NSU announced potential second UZ type discovery. So, they did try to do what you said. Pay...what?, probably around same $1.2B CAD for Timok and other stuff in Europe. That's probably why the company in PFS somewhat artificially used $3.15/lb for copper and did other tricks to bring the project value to $1.8B .They knew how much (or more precisely, how low) Lun was offering. I would ,probably, too accept $4 cash for Timok and leave us , nevsuners , alone with a huge pile of cash to move Asheli, Harena forward which now are on a backburner because of the cash restraint, not because its not economical. Bringing this underdog around lets LUN to make the ( or "a" ) proposal to look bigger, Oh- WOW!!! The whole five bucks! While , in fact, what is set it's only $2CAD cash and more or less $2 in Lun shares. If it was a real offer there will be a ratio attached. Say, one Lun share for four NSU. With that other, no-name, no-reports, no-money, no-income, no-assets company it is even much more vague. What is that $1 in it's shares? I understand what it will gain, that's clear:$145M in cash and a producing mine. Heck, Nevsun can buy this P.o.S. with half of its cash and that company's market cap of $78M CAD.HOW it can buy Bisha, with what, pile of wallpaper aka their shares?