My thoughts I'm not currently a CMMC shareholder but have been dozens of times for short periods so I've been following along.
As an outsider looking in Im not surprised at this low offer. Fact is CMMC has been horribly run in the last 2 years at a time when copper prices have been very strong. Hudbay is a much better management group and will be significantly better at managing the assets and making money.
Honestly if you've been a Canadian mining investor for the last 3 decades you know this is just par for the course. The industry has a lack of talent. Hudbay is now putting CMMC out of its misery and while return stinks it's going to free investors up to avoid the pitfalls of being invested in a company that could never execute to its potential. I'd consider it a blessing. My opinion only. Good luck all.