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Wanted to bring this pick back to the top, possible acquisition agreement by May 28. Traded over $8.00 in the afterhours!!!
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It jumped to $8.00 or $8.05 in the after hours last night. I bought some at $7.25 hoping for a little rally first thing this morning, but ended up averaging down right now when it hit $6.40.
Posts: 602 | Registered: Aug 2005
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Patience Always Pays Out: Peru Copper In Exclusivity Pact Regarding Potential Acquisition (CUP) Thu May 24, 11:53 pm ET
Patience almost always plays out when investing in good stocks with great opportunity written all over them. I covered Peru Copper (CUP) here for some time now (a bit over a month), and I was glad to read the following news after the hours today:
"Peru Copper Inc. (CUP) has entered into an exclusivity agreement with a third party in order to facilitate discussions regarding a potential transaction which may involve the acquisition of the Company or other material transactions. Peru Copper, Vancouver, said the exclusivity period ends on May 28."
It continues to state that this metal explorer with a market value of about $702 million might be sold to another party without identifying the other party. Peru Copper rejected an offer from Phoenix-based Southern Copper Corp., last year, calling it ``frivolous.'' I am sure that this time the offer is much sweeter! The stock already jumped 20% after hours!
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