GREY:NEVDQ - Post by User
Post by
rickwayne1982on Aug 14, 2024 6:00am
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Post# 36177956
Stalking horse bid makes sense now...
Stalking horse bid makes sense now...Courts know Nevada Copper was in a sale process before petition. So the approach taken to start with a ridiculously low stalking horse bid, doesn't give any indication to potential buyers where to submit their bid in a highly competitive bidding process with at least 29 interested parties since July 12. Nothing is suggestive with a stalking horse bid at 128 million, other than this is amount being BS.
It is left to the buyer to do their own due diligence and submit a reasonable offer that is within market value.
Think about it, if a SH bid came in at 3 Billion USD, that would be suggestive and other bidders will bid within that range. 128 million is a joke ( this is the same amount as the October 2022 restart financing package.)
Like filo Corp getting 2.9 billion USD for land in the clouds. That "somewhat" of a comparable should give an idea where the Nevada copper transaction will land, no pun intended.
Ah you guys are smart! Took me a few days to figure that out.