RE:RE:RE:RE:RE:RE:RE:FORTESCUE METALS CONTINUES TO INVEST IN ALTA COPPER ATCUIMO it’s best not to look at it from a share price perspective but instead a valuation or market cap perspective.
Canariaco is worth at least $350 million which is $4.12/share based on 85 million shares. That is 12x from the current share price.
Regardless of the share price, a company will have to pay a valuation amount for the project. If you take the Noront example which fetched $600+ million. $600 million / 85 million shares = $7.05/share That is 20x from the current share price. Now Noront is nickel but you get the idea.
Management has and will continue to be very effective at minimizing any dilution which has been proven by the latest raise which did not have any warrants attached to it. Fortescue even participated.
Management also participated in the latest raise, and they already own a boatload of shares. This shows extreme confidence in Alta Copper from top management. Basic shareholders should follow the money and see that if management is buying $200,000+ in shares then there must be something coming. Management will not be rewarded unless all stakeholders are rewarded.
Check out the news release from today, they are moving forward and their biggest shareholder is onboard.