RE:ALTA COPPER – TAKEOVER ON THE HORIZON 2024Fortesque owns 31% of Alta Copper's 90 million shares, or about 28 million shares. At $6 per share they could buy the remaining 62 million shares for $372 M Cdn or $272 M US. Another buyer of Alta at $6 per share would have to pay $540 M Cdn or $395 M US, a considerable difference but still cheap considering the 14 billion lbs of copper.
As Big Money says additional drilling at Norte, Sur, or Quebrada Verde would change the value of the company. It would be financially prudent for Fortesque to try and take over the company. Bidding would have to start at $5-$6 per share forcing the other buyer to bet the mineral resource at Canarico, N+S, and QV is even larger while Fortesque knows the quality/feasbility of the project better than anyone else.
It would make sense for Fortesque to secure the project. If not there may be a takeover battle in the future for the ++14 billion lbs of copper etc.,etc.