RE:if it looks like a duck.......
$3 CAD was last year's price, that isnt even competitive today. $3 is $415 million. A firm with a clear path to raise $520 million now wont accept such a paltry sum. This is a seller's market. Majors are accustomed to making offers to juniors desperate for a deal, any deal. That is not the case here. I would vote no to anything less than $4 USD. Generation will "entertain" a Sibanye offer, but it will have to be juicy good to be accepted. Generation is in the catbird seat, all offers will be considered and enough time will pass to allow all interested parties to submit their best offer. It's not coming this week, this month, or this quarter. A buyout must be better than going in to production, because this mine has a clear path to production. Production means $4 USD minimum.