Yep, volume buyer is probably one of the big boys about to make a play for this cheap resource option.
Market cap is lunch money. And the cost overrun is a tip on a decent lunch bill.
Management might well have lost their chance to bring this boat home. Time to engage an experienced pilot!
Hedge funds probably want out, HNC would love to get its cash back without the risk of plummeting the sp again and the 6 month tie up.
Pure speculation on my part, but I suspect it is a real possibility. An offer 40% above present price might help some of us get our money back! Certainly a better option than waiting 12 months for production. I figure that it will be 2015 before they get the sulphides operational. That timing would suit the big boys.
CMR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
