We need more money $$$ DO NOT TENDER YOUR SHARES... Do not tender your shares.
Assuming no other bid comes, Zijin should be forced to up the payment significantly.
I'm not going to harp on what I've already argued but logically I don't see the benefit of selling out at $6 when NSU on its own could theoretically justify a price well beyond $10 per share in 2-3 years.
And if the lower zone feasibility and ability to develop the lower zone is accelerated then we will EASILY see double digits IMO.
FCX just going to sit by and allow Zijin to get the lower zone for free? Doesn't give much worth to FCX's ultimate 56% ownership in lower zone!!!
I just can't believe for the life of me that at CAD $6 per share Zijin would be getting the lower zone for either NOTHING and/or very very very little considering full pop for the upper zone alone is at CAD $6 per share.
I can't for the life of me see how anyone, including our own management, agree to such a deal.
SPIN OUT THE LOWER ZONE TO SHAREHOLDERS.
The lower zone for all we know will prove to be a higher (possibly much higher) NPV than the upper zone.
I cannot fathom this in the least.
How does one justify giving up the possibility of an estimated 30 billion pounds of copper for essentially nothing???
Maybe management thinks it's worthless? Maybe FCX thinks it's worthless? I would find that hard to believe.
Bisha? Exploration potential? Same deal there just not as bad as lower zone IMO.
Please someone set me straight. Tell me I'm nuts. Tell me I have no clue WTF I'm talking about and do your best to explain why selling at CAD $6 would make any sense.
Thanks, would be much appreciated.