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Strategies & Market Trends : Ride the Tiger with CD

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To: dara who wrote (111485)	4/14/2008 2:10:57 PM
From: TheSlowLane	Read Replies (3) of 313038

Global Copper shareholders have gotten a nice ride over the last few months and a nice bump today. I did a quick back of the envelope calculation and estimate that they have about 14B pounds of copper counting 43-101 and historical estimates. So the takeout price equates to about $0.03/lb, which seems to be in line with other recent buyouts. Candente has a fully-diluted market cap of about $131MM. If the updated resource estimate shows 10B pounds of copper (currently 8B based on 80 holes, new estimate will include about 200), then 0.03/lb would equate to a $300MM takeout valuation. My guess is it will come in at over 10B, but that's just speculation on my part. Should be good for at least a double from here anyway.

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