RE:RE:WhoahI guess you wisely have not been waisting time following ncu drama jc.
We should know what shares are worth sometimes next week. Shares are not tradable except by private deal.
With the Russian owner of Pala investments owning way over half of ncu, as the war carried on, no one wanted to do business with ncu.
So Pala being in control simply closed the mine, filed chpt 11 bankruptcy as debtor in possession.
The lenders agreed with the process. One lender stepped up with a 60 million u.s. loan to facilitate a sale of the business with all assets. Then a stocking horse bidder put in an initial bid of about 200 billion cad. To start the 2 months long bid process. There were at least 47 interested parties.
Moelis business law firm, is about the biggest and most reputable in the world. They are coordinating along with about 8 senior ncu management who are on over 8 million incentive bonus to get the highest price possible. So with court oversight bidders can be confident of u.s.and nv. State approval.
Moelis is working on a 2% sales commission plus expenses. It looks like so far they have racked up about 10 million in expensive and likely 20 by sale close.
The grade and magnitude of the pumpkin hollow deposit is mind boggling.
So tomorrow is last day for bidding to get eligibility to participate in final 1 day auction conducted in NY city on Tuesday.
Bhp has set the value of copper deposits by offering 1 dollar a pound insitiu for anglo Chilean assets which anglo rejected. Bhp along with lundin then closed the purchess of the no infrastructure or permit filo deposit at 1 dollar a pound.
The pH deposit is far richer and larger than filo. So about 100 million or more is being spent on pre auction promotion.
So, we will know a bit after Tues. if our shares r worth 10.00 cad. 0r 0.00. My guess/hope is 5.00.
It difficult waiting.
Nf