RE:RE:RE:RE:RE:RE:RE:RE:warrants - extending the Exercise Period to August 3, 2020Ponch, I'll admit to often applying the same metric, "peak enthusiasm" usually signals the peak, period, and consensus is almost always a prescription for being wrong. Your view elcited a smile or recognition.
However, in the case of a large copper deposit like this the market isn't the bunch of us who have jumped on this company and become its cheerleeders, but it's the few dozen prospective buyers who will one day bid for the asset, and when that time comes they will not let an industry competitor pick it up for cheap. The history of copper M&A shows that these assets get bought for a value relative to their size, grade, NPV, IRR, etc., not their share price or valuation pre-bidding, and the range of values from one deal to another is actually pretty tight and consistent. Having looked at dozens of charts of the porphyry copper owners taken over in the past, I see step changes reflected in the charts once bidding gets started.
Most of us are in here with that in mind, and with the feeling that copper markets will move from bear to bull, as they've tried to do a few times in the past few years, only to be thwarted, at which point the share count will be not be an issue (if it even is now, which I don't think). Generalist investors will pick up on copper and those relatively few of us who have been holders for a while will get overwhelmed by new investors. And given the expected high asset valuation at take out, even with I&O greater than 200 million will still get the ~10X most of us are aspring to see.