Topic takeover:A variant would be - as discussed here - according to the expected optimized PEA.
But I think that we will first have to wait for the drilling program.
Should the expected increase in resources become apparent, Canariaco would be the 5th largest junior copper deposit in the world and would be of interest to every major.
Through its 31 percent stake, Fortescue has secured a 31 percent discount on the usual market price at all times.
And if a project becomes more expensive, there's probably a good reason for it.
From my point of view, it would therefore make sense to first define the Canariaco project comprehensively in order to then turn it into a really large copper mine.
In my opinion, whether Fortescue or another major puts 100, 200 or 300 million USD more or less on the table in a takeover does not seem very significant compared to an expected 50% increase in resources.
Precisely because many market participants expect the copper price to be USD 15,000 per ton in 2025, these amounts, which are “manageable” for majors, would have been recouped very quickly.
An expansion of resources by 50% or more would of course also be beneficial for us shareholders.
As the resource expands, a possible takeover price also increases.
And the expected expansion of resources will also be accompanied by an expected 50% increase in the price of copper.
This should also have a positive influence on a takeover price.
So either a quick takeover at a lower price, with the money on the table promptly.
Or another 1-2 years of patience and a significantly higher amount invoice.