Like most shareholders I am somewhat astonished that RC and board has accepted the offer. It flies in the face of every pronouncement RC has made in the last 4 years. Expected net earnings without further exploration are a minimum of $45 million for ten years and a multiple of ten for the valuation is not outlandish. East coast has crisis is in the news everyday and every pronouncement from RC is that we are in the box seat.
Therefore, is RC forcing the hand of other suitors, his shareholding and options would not indicate this is in his best interest to accept the current offer. Unless he is expecting a revolt and laying the ground work for a cap raising.
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