Here's what will happen, when & how I know...Before Rio signed the agreement & took an 8% ownership stake they had discussions with WRN, had a relatively good understanding of the nature of the project, were familiar with the geographic landscape, the FN landscape, the political landscape, the financial landscape and the ESG landscape. If they didn't like the looks of any of the above it would of stopped right there. And it may of already stopped right there with other suitors but we'll likely never know. And believe me, they had a pretty good idea of what the purchase price would be or they wouldn't of proceeded.
The agreement allowed them to confirm all of the above and that they did. Things were either as good as, or better than they had been told. They would not of signed the extension if this were not the case. In the mean time copper, gold, silver and moly have all increased in price and the copper story only continues to gain momentum in our green future.
I've been involved with over 20 aquisitions in my career and once we signed CA agreements we never failed to close a deal. Barring being mislead or uncovering fraud the deals went ahead and at a price close to what we had envisioned at the beginning.
So where does that leave us today. This thing will close before the end of Q3 because there is no reason why it shouldn't. All the work is done, all the boxes are checked. I don't have a clue what it will sell for but both WRN & Rio certainly do. They will dance around a bit as is always done but they both know approximately where they will end up. Rio needs to get it done as they need the resource and they don't need any competative tension. WRN needs to get it done because that is what they are in business to do - find something, develope it & sell it.
We as shareholders bought into a business model that has a limited life. It has an end. We're pretty much there. No more boxes to check. Anyone can finish out the permitting on this and it's better for both WRN & Rio to have Rio do it. Wrn has nothing left to offer. Thier usefulness is coming to an end.
That's the way I see it. Sit tight guys, a few days or a few months but nothing more....