Alta Copper Corp T.ATCU

South32 buys 19.9% of American Eagle

[MisterMarket]

No, I am not posting on the wrong board.  South32 Ltd hsa bought into American Eagle's NAK project at a $0.15 premium giving it a 19.9% interest in the company despite Teck Corp having a 19.9% interest (33.32 mil shs @ $0.875 for $29.16 M).  Teck can match this in whole or part maintaining its 19.9% interest or not.

Fortesque's 34.17% ownership of Alta can be reduced and is an inviting prospect for another mining company wanting a stake in a company whose NPV8 at $4.50 lb copper is US$3.2B ($4.46B Cdn).  A large number of shares will have to be issued to obtain money for the drill program.  Management says at least $10 million will be needed to start.

The most interested party to invest a large sum of money like this would be another mining company wanting a 19.9% stake or an eventual !00%.  28 million shares could be issued at a premium price of $1.00 giving the intertested party the 19.9%.  Fortesque could match or partly match this buyin giving Alta up to $56 million for future work.  If the company was a well experienced copper miner (in the Andes) Fortesque could be willing to JV Canariaco with them reducing operating risk.

Trading in Alta shares is eeringly quiet.  Shares trade at a depressed level.  It may be a good time for someone BIG to buyin.

[ForesstGump]

All that is great , but remember that without the community agreement this is not worth anything

[MisterMarket]

It's always wait---wait---wait.  Wait for the drill permit.  Wait for the community agreement.  Wait for financing.  Wait for drilling.  Then wait for drilling results. Alta copper has all its ducks in a row.  Now it's just the long wait for the prize.  It's not going to happen overnight.

[ForesstGump]

It's now all about the community agreement.  Fortescue will then make an offer

[MisterMarket]

How do you know Fortesque will make an offer?  Are you Andrew Forest?

[ForesstGump]

They will one day , maybe. Remember, this has been going on for a very long time. If the project does not go through, Fortescue will only have lost a miniscule amount. Andrew didn't get his billions by putting retail shareholders first. Many shareholders will make lots of money if this reaches 1$ and is bought for that much. Alta should start drilling in 2025, and after 1st quarter will need

[rrr1982]

Yes he didnt made his billions by being nice. He probably inherited a big chunk of it like most billionaire. As of the 1 $ deal making many shareholder money... I mean 30% is own by fortescue, 28% or so by management,+fund. All of those minus fortescue would NOT be making a  profit considering 12 to 15 years holding stock. I have no clue how many of the 36% are new investor like yourself

[MisterMarket]

When talking about a selling price for Alta Copper remember you are talking about a company whose NPV8 is US3.2B ($4.46B Cdn) at the reasonable price of $4.50 copper and with signifcant exploration potential open to depth and open for discovery at Quebrade Verde. If Alta was a gold company it would be worth at least $1 Billion Cdn.  That is cheap at about 25% of its NPV.

[ForesstGump]

I agree Alta is more than undervalued. The only nightmare is the community agreement .They must sign an agreement. After that, rest assured Fortescue will make an offer.