RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:warrants - extending the Exercise Period to August 3, 2020 Disagree on prospective buyer point. They're not even looking to acquire yet, probably.
Until an exploration program is completed, all discussions with the majors are likely being led by each majors' exploration team - not their corp dev / m&a team.
A major that buys this will need a fairness opinion, accountants to hang their hats on something, etc so that public shareholders don't get enraged.
Which leaves us in our current situation. We know there is 9bn pounds of copper at ST, and that it is too early in the process for a buyout given the disclosure a buyer will demand.
The exploration guys are keen to invest, probably. But at what price? How much credit will they give us for the historical report?
Are we looking to raise only the $2mill? If so, how will a major investing via their exploration arm protect themselves once we prove the 9bn in copper? It would be egg on their face to get outbid at that point. If there are no protections, why would the come in at a meaningful premium to current share prices?
I don't know the answers. I just know that Adam & team are aligned to figure out the best financing structure - and that there seems to be room for error at current stock prices.