Alta Copper Corp T.ATCU

Maybe interesting to understand what the money is for

[horsewithnoname]

The money is not for the future drilling - this placement is still to come. The money is for community relations and permit application finalisation, which was supposed to be in place already as Giulio had indicated potential permitting being finalization earlier but for sure in Q3. So the question is, is this market is waiting for? The PP done is a little annoying we have been in worse situations and Johnny had no problem to spend 70 cents per share - so why. I guess Fortescue is getting more confident regarding its control over ALTA, by having the board under control now, which means less effort in pleasing. They other thing that is interesting is the delay in permitting and higher than anticipated costs. Not sure why. Certainly it would be an illusion that even with a mining friendly government now everything would go quick. But there have been surprises to investors in the past that were not well communicated by Candente. I am a long term investor and have taken on board a reasonable share in Alta over the last years. I know the value of the deposit and I know it will go in production at some point. I know Fortescue will play its games to drive the SP down before any take over bid is issued - maybe we are just in such a periode. There are some parallels to the Noront take over for example establishing a ]30% stake iand I am sure Fortescue would like to avoid mistakes made in the Noront case, like having a board that would support a hostile take over bid like the one made by BHP. It also made clear it would block any hostile take over and I am sure we will face the same situation here. But with all this Noront share price increased from the begin of 2021 to the end 2021 and the closing of the deal 7 fold. Looking at the parallels between the two I think we may entering soon into the periode where a potential hostile take over could emerge or not, as I said Fortescue has learned from mistakes, which means that such a bid will not be supported by the board, given its current composition. The next challenge now is to get the the shareholders to believe they make a good deal. Based on the trading volumes I think most shareholders have no interested in trading at current levels and it should be clear to Fortesuce that the range up to 80 cents is not considered to be a serious territory to start any disucssion about a takeover - therefore my guess - first a stink bit at 1 dollar a share and than like in Noronts case another 50% - so 1,5 per share, if we get a third party interested we would get an additional 50% step like when BHP came into play in Noronts case. So for me it looks like we are in the midst of a take over provcess, where Fortescue has learnt from the Noront lessons and we will maybe loose out on the counter bid part, but the fair value disucssion and the need to get a buyin from the majority of Non Fortescue shareholders will still persist. GLTA

[ForesstGump]

Yes, it would have been nice to see Peruvian investors buy a bigger chunk.  Who are the exixting Peruvian investors and High Net Worth

[DeepdiveN]

As far as I remember around 15 years ago the Peruvian pension funds invested at around 1.68 USD. The market capitalization at that time was about 150 million USD with a similar amount of outstanding shares as today. They won't accept a cheap selloff. Back to 240mio USD is the minimum.