CUU - Recent Insider Trades - ReviewSo let's recap:
McKay-Dunn sold about 214,000 shares but still holds 1,169,300. Gifted another million shares back in Dec.
https://www.insidertracking.com/ca-filing-details/4314164 Newby Sergio GOMEZ acquired 19,940 shares in April at .245 cents but hasn't bought anymore since.
Copper Fox Metals Inc. CUU*CA Stock Quotes and Insider News | Insider Tracking ES hasn't bought or sold a single share or at least hasn't filed yet if he has. Issues a news release stating no idea why share price is rising.
EE hasn't recently bought or sold a single share or at least he hasn't reported it yet.
Soooo, why the sudden rise in share price and high volume? Is it TECK has hired a hedge fund to buy as many CUU shares as they can get before a takeover offer? Possibly, but EE holds over 66% of CUU Voting shares so it won't be a hostile takeover if that's what's going on. Does TECK really care if they buy back 10 or 20 million shares before making an offer? Not likely.
I agree with other posters here that something is definitely going on but what exactly that is is yet to be determined. With a float of 559 million shares, the few million shares traded so far is really just a spec by comparison so we'll need a few more days to see where this all goes.
I've held this dog for 14 years and gave it up for dead waiting for the day TECK would finally be ready to make their move and buy out CUU's interests in Shaft Creek and so maybe there really is life after death! If TECK is behind this what might they offer per share to buy out CUU's interest? What's it worth? $2 bucks, $3 bucks, $4 bucks per share, more? It's high in 2010 was about $2.50 a share so my guess is they would start there BUT EE has been waiting a very long time and I doubt he will be happy with that pitance. Any other thoughts on on a buyout share price offer? CUU's current NPV / Enterprise Value?
HB77