RESERVOIR MINERALS INC V.RMC

HRA-Eric Coffin thoughts on rmc/nsu/dissidents

[vaeirrr1]

copied from ceo's open online discussion:

@HRA-Coffin Not to put too fine a point on it but anyone who thinks the Chinese smelter bid is superior is an idiot. NSU/RMC combination is far superior. The Chinese want a cheap off take contract, want to back out the FMC deal -the only way it would work now - to which FMC would be sure to say WTF? They do not need a Chinese smelter for Timok. you can stand on the drill site and practically hit the new, huge and underutilized BOR smelter with a freakin rock! The whole thing is ridiculous.

@HRA-Coffin The Chinese want an cheap off-take contract. Offering a deal that, potentially, would allow them to call a loan and get Timok should be a giant flaming giveaway to anyone voting on it. Anyone who can't see why it would be an issue should have their proxy taken away and given to an adult.

@HRA-Coffin It will be five years - probably - before they even know if they can/could/should block cave that sucker. It's just not part of the math at this point and I don't think it should be.
@HRA-Coffin Not to put too fine a point on it but anyone who thinks the Chinese smelter bid is superior is an idiot. NSU/RMC combination is far superior. The Chinese want a cheap off take contract, want to back out the FMC deal -the only way it would work now - to which FMC would be sure to say WTF? They do not need a Chinese smelter for Timok. you can stand on the drill site and practically hit the new, huge and underutilized BOR smelter with a freakin rock! The whole thing is ridiculous.

[thorgb1]

Obviously Coffin will be all for the NSU deal. He has been pumping NSU as undervalued for years. And once again, Coffin is confusing the discussion by implying that a vote against the NSU as currently tabled is a vote in favour of the XGC/Jing Bao termsheet. This is simply not true. All we are voting on is the merits of the current NSU deal as it is currently structured.