Normally juniors were sold from 30 to rarely 100% premium over their trading prices. By
normally I mean before the financial crisis threw a monkey wrench into the works. We and every one else know that current share prices are out of whack with normal times. That is why FWR and SPQ were/are priced 3 to 4 times the trading price before offers made. But note that the initail offers were not even at double the price.
Sooo should we get an offer do not expect an immediate double, that would be against recent practice.
I do not want to insult anyone but something in the $2-2.50 range is about as much as can be expected to Noront.
Would anyone sell at that price? There might be a few shares.
I have a few day trading ones that I would part with at that price HOWEVER mine and I
presume everyone else here would not sell any of their long holds. That price would be also considered by us as an insult.
So the second offer, should there be one, would probably be in the 3-4$ range.
Almost as ridiculous a price I would say.
I will not hazard a guess if there could be a third offer. We could just as easily see a
resignation from buyout.
I should add that if AT12 has some results that could suggest it has possibility of being
another Eagle then the above offers, if made after the fact, should be at least 50% higher.
Also, how much do you think we are devalued presently from normal times. That could be another direction from which to approach the subject. In this case taking the undiscounted price, I do not think 30% above that would be realistic, but 50-100% would be. I think the higher percentage is more applicative to Noront due to the vast claim hold and variety of resources already found.
Note these estimates are significantly lower from what they were last summer & autumn.
Just my musings at a time of few postings.
