RE:Pentwater and SailingStone I think Rio already has 51% of trq. They won't get much more at $34 so will likely raise their offer to somewhere in the mid 40s. To get Etg as well, they will have to offer something more than $2? as Sandstorm already has more than 25% of the shares. Sandstorm has recently bought a lot more shares in the $1 range.
Looking at Etg's reserves report, even at $2.50 a share, Rio will be getting Etg at a wholesale price. Rio says on their website this will be the 3rd largest copper/goldmine on the planet. I'm guessing if Rio doesn't offer a decent price for Etg, Sandstorm will. ETG will be a cash generator and they also have a large tract of ground next door that could be very lucrative. There's lots of surface gold showings there that have not been drilled. At $1900 an ounce the potential is good compared to the $350 or so when they first started exploration on the property.
Rio can write a check out of petty cash to buy out Etg at $2.50. They will then have the entire property and will likely mine it for the next 100 years.
My thoughts are Etg is currently the better buy here for the small investor.
Just my opinion is all.
Rock