RE:RE:Junior Mining Companies Should Never Be MinersYou're explaining my reasoning for our lack of leverage here. These juniors "can" build a piddly gold/silver project, but nothing approaching our scale. We have to sell, otherwise Casino doesn't get built.
What happens when we finish permitting at C$400m market cap and offers are for C$500? No body is tripping over themselves to get in here, even at this valuation. A consortium is ultimately too many moving parts, so realistically only Rio, BHP and Freeport are likely suitors. Gold major will not be the lead here, if involved at all (I still say none will come forward). If none of the above offers over C$500m? Oh well, they survive, and we're left with a stranded asset. Coffee was permitted, yet Newmont chose not to move forward.
IMO, there's never any real run-up here because the market know we're ultimately forced sellers.
Can't use "Chinese" money, a la Friedland in the Congo - Canada just shot down their investment for a Vancouver listed company with a South America project. Think they'll be ok allowing "foreign" money in Yukon? Fat chance.