NumbersI agree with everyone. Rio is not a charity, and would to try to acquire as cheaply possible. Conversely, WRN should seek best price possible. If Rio offers a lowball figure of $5 or $6, Agnico Eagle will likely counterbid. Price will run up to $8 or $9. Does Agnico have incentive? You bet. Border our northern porphry. And Casino would be ultimate catch.
Would Agnico drive us into double digits? Not sure. AE market cap is only 21.9 B compared to Rio's 104.4 B. Freeport could run us up to low double digits (10s), but lukewarm if they have incentive. BHP, on the other hand, is whole other BALLGAME. And BHP says they like Canada.
BHP mc of 142.8 B.
Minimum $8 or 9/ share
Could run up to $20s
Rio would bid well at $8 or 9 just to fend off Agnico
Newmont is not in pic. Assumed to much shortterm loss with Newcrest. BHP is the one to look out for.