So they paid $4m for the option when the Renard deal was fist announced. Then they paid $2m to extend it. Now they are paying another $8.5m to extend it again and will lose the option if it is not exercised.
It would only cost them $1m to close the deal and then another $10m 12 months later. Why spend $8.5m just to put it off for 6 months? What am i missing here?
WR1 Price at posting:
42.5¢ Sentiment: None Disclosure: Held
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