RE:RE:NEWMONT WILL SURELY WANT TO ADDRESS III.Thanks for your input on this intriguing situation.
I do wonder if your #2 alternative is feasible as Newmont may be reluctant to inherit Mount Polley's history.
Further, alternative #3 could be difficult from a regulatory perspective and undoubtedly would require numerous fairness opinions. ME has always been fair but there are many moving parts to this transaction.
Thus, it would appear that your alternative #1 is most likely. In this event, the stand alone profitability of Mount Polley becomes an important factor when establishing the value of III.
All of that said, it appears that III is trading well below its possible value.