RE:RE:RE:RE:Question Sooner, we are in a different situation than most juniors being acquired for a 50% or so premium over the previous 20 day moving average of the stock price. Those type deals tend to be for small fry type juniors who are dominated by retail shareholders with management having little skin in the game.
WRN is owned and controlled primarily by the insiders, who have ample skin in the game. We are a mammoth project which is world-class. Don't compare apples and oranges here.
In our case, we will sell based upon a negotiated deal (% of NPV per share or some other such metric that is acceptable to both parties) that is IRRELEVANT of the current marginal trading price of the stock.
Where do we investors purchase our stock from? The market makers on the TSX and NYSE. Where do the market makers purchase their stock from? The day traders or hot money. We investors are like the insiders, we buy and hold and do not sell. The price in the market for the most part are being set by the day traders. Sure, we investors help inch the price up year by year, but the traders set the price. The traders know NOTHING about the intrinsic value of WRN or its story.
Having a strong stock price is nice in that it helps curb dilution when new shares need to be offered, but at this juncture no more shares need to be offered, we have enough $$ to finish any remaining drilling or other such due diligence needs that must be performed prior to the buyout.
All that matters is what our PEA says and how much additional drilling RIO and the BoD would like to accomplish before putting ink to the papers finalizing a deal.
PS as far as the chatter regarding NEM, there is a reason that RIO starts off with only 8%. They KNOW that they will have to deal fairly with us lest we open up shop to other bidders waiting in the wings. And, I know that others will have their eyes on the PEA. Don't think that NEM wants to let RIO sneak into their backyard. The BoD will play the positive tensions amongst the players as Vivaldi played a violin......to perfection.
If anyone thinks $3 or $6 or whatever pitiful number is being bandied about is all that, than you would prefer hearing a junior high violinist try to stumble through musical scores intead of appreciating Vivaldi being played.
Sit back and accumulate here and there on any dips. We know we are down to our last 18 months or less....