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Bullboard - Stock Discussion Forum RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."

TSXV:RMC - Post Discussion

RESERVOIR MINERALS INC > Vultures Are Circling Freeport to RMC's Gain
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Post by psj567 on Aug 24, 2015 12:29pm

Vultures Are Circling Freeport to RMC's Gain

Freeport almost reached the $7 handle today. Amid a forced raise by creditors and a deteriorating balance sheet, Freeport has to be exploring all options to raise cash ASAP. Several of the leaner, cash rich, mid-tier producers are salivating right now at the prospect of buying Freeport's interest in the Timok JV at a fire sale price. Because RMC holds the Right of First Refusal on any such buyout offer Freeport wishes to accept, a would-be acquiror is going to have to pay a hefty premium to first acquire RMC's interest.. Stated otherwise, to acquire the Timok project in its entirety at a bargain basement price, someone is first going to have to pay through the nose to acquire RMC.
Comment by psj567 on Aug 26, 2015 12:58pm
Freeport has broken into the $7 range today and its balance sheet is deteriorating by the hour with each drop in the price of oil. The company who successfully acquires the Timok JV Project has to move deftly and quickly, reasonably soon, to outmanuever the several other companies who would like to acquire the best development project in the copper space in the past 25 years. RMC is positioned ...more  
Comment by cd673 on Aug 26, 2015 9:47pm
Agree in this market anything can happen, but I think overall we would be better off if FCX and the market was in better shape.  That said, let's look at the landscape today.  There are good reasons a deal of some form could happen: FCX needs cash, smart people buy low; China will stockpile copper at low prices; the fact our price is holding  indicates continued accumulation by ...more