When assessing this, it is important to note that Alta has a measurable size in copper/gold/silver.
We can put this measurable size in relation to takeover deals in the present.
If we look at the Filo deal, I think that a high, a very high price was paid here.
Why?
If it were just about taking over explorers and their resources as cheaply as possible, Filo could have been handled differently.
Instead, it looks like a hasty process.
There must be a reason for this.
The way we observe the market, other shareholders are certainly doing the same.
If the offer is too low, the gap to average takeover prices is simply too stark at a certain point and it will trigger resistance.
I would also not underestimate the retail share. Not all of them are sheep, especially not those who have been strategically investing for 10 or 20 years.
It is precisely the strategic shareholders who have speculated on the real value of the company.
After 10 or 20 years, they want the cards to be put on the table.
They will therefore do everything in their power to reject an offer that is too low.
In my immediate vicinity, 10% of the retail sector alone is represented.
And they will without a doubt reject a bad offer.
That is already certain today.