Its hard to know why they walked away, but i'd suggest it was something to do with the limited mine life or small size of the operation. This is not a big operation or deposit BUT the non offer by FOSUN does not change copper prices, FND's productions costs and profitability. ~$80Mil profit to be generated from the next 4 quarters looks very good at the current market cap. That assumes copper prices don't keep going up.
Once the debt is paid down, FND can free up capital to prove up additional mine life which they seem very confident of doing.
FND Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
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)