RE:RE:RE:RE:Am I missing something?I beleive that all directors signed on to Shandong deal which means that Newmont has agreed to tender shares (24.8%) as has RCF (27.6%). Both can tender to a better offer but neither will get involved in T/O battle.
Shre price, re-tender was ~0.50 per share so $1.75 per share is value as TMAC may have had to file CCAA, I doubt either shareholder would have comet to table without Shandong.
Lots of gold but that has not chnaged in past 15 years, just smallish deposits with significant different characteristis in alteration and mineralisation, so Gekko choice for mill was challenged. Risk in original PF study was in milling and recovery which was pretty optimistic. Newmont spent considerable time and $$ looking at how to recover (many deposits) but TMAC went with bad (20/20 hindsight) choice.
Government is not into mining and many still remember bad historic choices, so unless new bidder comes to plate, Shandong is only choice. That or shareholders get nothing.