Stock price when the opinion was issued
He can’t find another good quality pure copper Canadian producer. This company is hinging its future success on a large mine in Panama and hopefully they will have it completed by 2016-2017. Thinks the market will be short of copper supply next year. Feels it has an NAV of about $80 a share and doesn’t know why it can’t trade at that amount.
Subject of a takeover bid, valued at $72 a share consisting of half stock and half cash. Risk of this stock going much below $67-$68 is pretty small. Company is actively soliciting votes against the takeover. Thinks it is worth more than $72 a share.