RE:RE:RE:DisasterThe issue seems to be, and I could be wrong here, a failure to understand, by keeping current with, the permitting regime. The very point of the Rio "enhanced due diligence," as Paul loves to descrbe this little arrangement, was to get comfortable with, and understand, permitting.
At exactly the 17 month mark, they issue a terse PR basically sounding like they have to start the YESAB process all over again?
Failure, on all counts. I'm now actively hoping Rio walks, turns around and offers us $2 per share. A 52% premium to Friday's close. A fair value transaction indeed.