RE:RE:RE:2024 IS THE YEAR FOR ALTA COPPER!!!eartotheground wrote: So you are saying he is in it for a severance package? Did you think about that before writing your post? That is so ridiculous!
Based on your post you are still thinking about the past and not the future as you keep referring to Alta Copper as Candente. Don't get me wrong, I get it, they haven't increased the value of Alta which is extremely frustrating but the past is just that and thinking about the future is what should be discussed. Step back and take a look at what will be coming in 2024.
Grumbling about the past is pointless and there is one day left for tax loss selling so my suggestion is either suck it up and believe in the future or take the loss and sell on Wednesday.
Valuation for Alta is subjective and will be dictated by the market and what copper is at. Overall I see copper rising to $5 in 2024. If Alta can follow though on their objectives in a timely manner, their share value will increase accordingly. I think all stakeholders will be happy with $3 or $4 per share which is what I believe they will get.
Happy Holidays!
I am not grumbling about the past, rather, I am warning about the future. Bonaficio is here to sell this company and he has structured his severance package such that he will make more on the settlement than capital gains on the sale of his shares. SEDI records his direct ownership at 1.5 million shares.
You are talking $3-4 per share in sales. Thats $300-$400 million for the resource. Firstly, that is way too low considering the Noront acquisition was $615 million, and that happened because Fortescue could not get majority shares and another miner was showing interest.
With Alta, there are no other minersf interested, and, Noront did not have a Bonaficio in charge, with several fortescue board members that is slowly selling stock to Fortescue for 50 cents.
Bonaficio has sold other companies as well for peanuts and it sure looks like everything is in motion to sell candente/alta in a similar way, not the way Noront was sold, which was more of a competition. Bonafacio has openly statted $1.00 share is his minimum sale price, thats $100million for the resource. At $1, he will get $1.5m stock sales and more than that with his severance.
When Fortescue gets 51% who is going to stop them from selling for $1 a share with no white knight in sight? Apologies for trying to look after my own interests and not Fortescues or Bonaficio.