The Case for LBO
It makes good case for a leveraged Buyout (LBO) by Greenstone & Tembo, the two majority related parties...They have invested over $70 million into COP, now holding about 1 billion shares. Taking this private for roughly the remaining 400 million shares at, say, $0.10 would cost them about $40 million. Based on Canadian case law on Oppression Remedy, a premium of 50-60% over market price would be considered very reasonable under the ambit for the "Protection for Minority Shareholders" ...As we know, these guys can do anything they want now with their 66 2/3% super majority votes. They can flip this to a major miner for $180-200 million should there be a new Cu discovery and profiting by many millions. These guys are domiciled in British Channel Islands with no capital gains tax...I would put on a duck suit and do the dance for Mrs. Goldminer if this doesn't happen. No, don't follow these guys as they are no better than the dumb aggrieved minority shareholders - Sergio et had bought their shares in the open market paying as high as $0.16. They don't deserve to earn 6-figure incomes running this P0S with no mine and revenue and millions in losses. The private equity people and management will make their money like the Wall street vultures by flipping the asset. Pity some delusional people who think COP is a long-term buy and management is just great.