To me it feels like SPR has been prepping this up to be sold off (which is why they haven't mentioned a timeline for production or a feasibility study).
They're focusing on exploration to build value
It feels very similar to how AZS done their exploration. Aggressive, exciting, and proving up the resource as quickly as possible
RMS obviously wants it
The way I see it, they've removed the blocking stakes and positioned themselves well to make it work
To my knowledge, they can make a takeover offer at any time. The 4 month rule only applies if they want to make an offer that is lower than what theyve most recently purchased at (which wont happen)
The recent appointment of David Coyne who has experience with commercial negotiations, mergers & acquisitions makes it pretty clear about whats going on
With now what i consider a floor / support at 92c, it feels like an even safer bet with minimal downside risk. Continued assays, MRE update & reserve to come, it feels like itll only be a matter of time before they get taken out
Looking at other takeovers, the minimum upside should be 20%, but it could potentially be more
SPR Price at posting:
95.8¢ Sentiment: Buy Disclosure: Held
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