Well the first part of the deal is 28.4c / share cash. Then there’s the potential for another 15.8c on granting of a mining permit and then another 19.7c royalty payment. On top of this there is a potential for another superior offer and MRC retains their Quebec tenement which you think is so valuable. All this and the market is valuing it at 22c in total. That tells me the market doesn’t value 28.4c (at the very least ), held by management greater than 28.4 c held in their own hands. The market doesn’t seem to agree with you that they want MTC to keep the cash and spend it in Quebec ( or anywhere ). That’s what the market is saying pretty clearly. If shareholders thought they would get 28.4c plus a good chance of 15.8c and a moderate chance of another 19.7c all in cash for their shares the share price would be around 35c now. They are much more likely to vote for something they think is worth 35c than the current 22c. The shareprice has gone down post announcement, shareholders are not happy.
MTC Price at posting:
22.0¢ Sentiment: Hold Disclosure: Held
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