The Renard option is nothing more than a noose around our neck at this point mate. Any potential partner can smell blood—they know that if this deal doesn’t go through, our share price will be crushed. We have no choice but to get a deal done, which means potential partners have every reason to drag this out, make Chris sweat, and ultimately hit us with a lowball offer when we’re out of options.
Anyone who disputes this only needs to look at the Renard deal itself. We did the exact same thing to Stornoway—CE would have driven a hard bargain, and they ended up with about 5 cents on the dollar for a $1 billion CAPEX investment. Was it fair to Stornoway shareholders? Of course not. But did anyone here care? Not a chance; we all cheered their loss, because it was our gain. They were in a vulnerable position with nowhere to turn, so we exploited them. Now that we're in their shoes, why would the result be any different?
This is business. We were the predator—now we’re the prey. We tightened the noose on Stornoway, and now it’s our turn to feel it.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)