Downside risk is not zero, unless losing money on a bad investment is upside now
It is really interesting to watch this play out. Did Ruane have to give up LM in order to get something else? Maybe but probably not. Also, these guys you talk about don't really seem that brilliant to me. All they did was peg ground very far from the major lake systems that RWD hold, they use RWD to talk up their stock because they haven't achieved anything substantial yet, and they pegged a deposit which is historically a NT nightmare.
If I was CEO I would look at the value of LM compared to LD/Karly and do the same. LD/Karly will likely have enough SOP to mine for hundreds of years and the potential to make far larger earnings than LM. So the cost of holding outweighs the benefits of dropping LM. For example, if you were mining LD/Karly would you ever mine LM? What purpose would it achieve except higher costs? Just pump more from Karly if you need to.
Again, I just want to say that what I posted above does not mean the GRM share price wont go up in the future.
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