Quote:
Originally Posted by DOHCVTEC
The Peregrine takeover, which has more copper and gold than CUU, was just done at $487 million. CUU's current market cap is $600 million. |
but keep in mind PGM has ~117M shares whereas CUU has ~374M.
The selling price for PGm was $1.35 in cash and 0.08136 of a Stillwater share, which equals about 2.7$ per share. if i was offered this for CUU ,i'd be happy, however i think this would be a "low ball" to the management.
also i took a look at their 2010 RE of PGM and at the .2% cutoff, CUU does indeed have less copper, but has a lot more gold, silver, and moly. In addition, CUU cu equivalent grade is higher than PGM which will help reduce the cost of production. CUU has stated a cost of production of copper at negative 0.32$/pound by the sales of their by products.
I'm actually new to this so please take my research with a grain of salt.