ONE CENT SHAREThe insiders spent 170 thousand dollars for 17 million FT shares priced at one cent.
If a buyout occurs at 15 cents/share they walk away a 1500% gain. Then 170 thousand dollars becomes 2,55 million dollars. (At 30 cents it bcomes 5.1 million. NOT bad for 170 thousand dollar investment).
For any independent shareholder lucky enough to have averaged down to 10 cents/share, to obtain the same 1500% gain as the current insiders, the buyout per share would have to be $1.50/share. Good luck with that.
What if LRC is aready a back door partner of a pending buyout? It would explain a lot of things that have made no sense for a long time.
SCENARIO:
The current arsmlength FT shareholders take up the tail pipe, the buyout entity moves forward and successfully exploits ARCTOS, either as a sale to Teck Resoources, Glencore or POSCO or develops the asset with partners such as the BC government.