I agree with you. Xstrata would have wanted to get CuDeco on the cheap.
Xstrata at the very last minute left Altona in the lurch by not agreeing to acquisition of their Roseby prospect.
Altona and its shareholders would really have been at Xstrata's mercy except for the fact that Altona has an operation going in Finland which is keeping it afloat and it does not have to give away its Roseby prospect.
This came at a time which saw the end of the mining boom as we knew it but , even taking that into account, the shareholders of Altona would, I feel, be aggrieved that Xstrata waited till the last possible minute, to decide not to proceed .
Altona were deprived of negotiating with others at a time when there was still interest in projects such as Roseby.
If I were a shareholder in Altona, I would be displeased with the way Xstrata acted.
CDU Price at posting:
$1.74 Sentiment: Buy Disclosure: Held
