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Gold/Mining/Energy : Copper Fox

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biggerbob68

To: louel who wrote (9585)	6/19/2015 3:14:55 PM
From: explorationguy	1 Recommendation of 10654

It's very difficult to get a good deal bidding against deep pocket companies in a multi-round bidding process. X2 didn't make the first cut even with a $ 5.6 billion fund, apparently because they couldn't make the numbers work: mining.com . Based on my observations, the "winner" will be the company whose CEO thought it was a great idea and his numbers people tweaked their estimates to match his wishes. It's possible Teck might jointly bid with another company but I can't see them taking this on by themselves. Seven companies had higher bids than X2, so someone is going to overpay when the deal is done.

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