Even if I use Spider's past price of 8 cents and buy-out price of 19 that is about a 240% hike.
Take our $1.10 price range now, Oh lets take a recent average of about 1.20 and using that 240% that still leaves us with a $2.90 final take out price.
Would you be happy? And I am not just speaking to some of the old timers whose average price may be in the 3-5$ range.
While I do not expect a buy-out offer from Cliffs for months because they have to be done with Spider and close out some details with KWG, but an offer for out chromite may be in the works in the autumn. Who knows, perhaps for all of us. While we might be ok to part with the chromite so that we would have $ for further development, that nickel with bonus metals is fairly attractive and a very liquid commodity.
By aquiring us, they would have the Ring all to themselves, barring their Ring assets being bought up.