The purchase price is not final yet as "Richmont has delivered a letter to the independent directors of Louvem requesting that Louvem form a special committee and retain a financial adviser to assess the terms of the transaction."

I wonder what the independent directors will think. If Richmont intends to produce 200,000 ounces a year, Beaufor mine might be a major contributor to such goal.

Furthermore, Richmont, for many years now, has been sitting on accumulated cash with no dividend payment nor any exciting prospects of purchasing new claims. They must know the true value of Beaufor and Louvem. The offer might be raised.

On the other hand, shareholders of Richmont do not think that it is such a great idea as their share shave fallen 2.7%