A lot of gnashing of teeth and wringing of hands over at AG. No news = really low buyout in their opinion. Estimates are around $1.5-$1.65. Some hard facts i.e. a really low value FS; moderately large capex; time to completion; history of paying a premium over the sp and not pounds in the ground etc. None of that matters. No one can know how Teck will value the mine. The only thing that does matter is EE's desire to get out or hold on for a big score. ES and EE decided not to drill last summer which suggests someone at Teck agreed that it wasn't necessary to establish more reserves. Just a hunch but if Teck does come up with an offer less than $2.50 a share we move on and drill, drill, drill until the true value is known to all. If the offer is around $3 I think EE and ES get out and concentrate on their new project.
Bigest new problem IMO is the issuance of options at .94. The price suggests a lower than hoped for buyout but probably in that $2.5-$3 range. Hope i'm wrong on the pp , because I think Teck would be getting a steal at that price, but everyone will still make a decent profit.