Considering SPR's independent production prospects over the next year (which are funded) I'd suggest any offer that could seriously be contemplated (irrespective of where SPR is trading) will have to start with a $2 handle, predicated of course on all things remaining equal on where the gold price stands. Premiums in the gold space in order of 50% have recent form....I think of DEG and MXR very recently and out of the gold space RIO bid a premium of almost 100% on LTM to secure a very high quality industry asset. It does make me wonder though if RMS went hostile with an offer of say $1.90, would they get an extra 30% of the Register & effective control over SPR?
SPR Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
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