Exellent point. Speaking of Ernesto....for round numbers lets put his shares at 220,000,000 for nice round numbers.....just over 50% ownership.
With that being said every penny this thing drops he loses over $2,200,000! What makes my pain a little more bearable is to calculate how much he is down since we went from $2.00. A whopping $396,000,000! (on paper)
I have to step back and take a realistic look at how Ernesto must see this playing out since he has not sold a share yet. With his track record, there is no doubt in my mind he sees the big picture. The question is when does he want to sell to Teck? Now we look at opportunity cost......IF they prove up and finish the optimizations studies in the next month for the JV meeting in October, imo this would be the best time for both parties to get a deal done.
Teck has the NTL for power now to build the mine and they have got to be thinking to get the construction started before the rest of the golden triangle gets off the ground to minimize the competition for construction labour. Along with the fact that any smart CEO (Don Lindsay) would love to get this built and operating before copper starts to really increase in price.
Just my $0.19 for the day.....take care and all the best to our families heading into the fall. Let's hope we are in for a great Christmas. Our families deserve it.
