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Gold/Mining/Energy : Copper Fox
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To: Metacomet who wrote (8561)12/7/2014 8:38:10 AM
From: mudguy1 Recommendation

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Theotokos

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I still think we assume too much of Ernesto in this. We assume he is a smart investor in mining, because he is in other industries. We assume he is taken care of, etc.

He may be wealthy, but he could be along for the ride like everyone else. His only leverage is if they have an offer to sell. Perhaps they had something in 2011 and his expectations were too high, or perhaps he got caught up into the pump like many others and now he is completely illiquid and dependent on the company and Teck making a deal.

His position on the board is just one vote. He can easily be outvoted.

I doubt it is that adversarial, but I don't think this the end game is sorted out for Ernesto. Mind you, I doubt he cares as much about this as most people on these boards.
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