Spot on Lord Elpus. You may remember the bidding war over North Ltd, whose most attractive asset was the Robe iron ore division. A further asset of course was the 68% owned ERA which held the Ranger mine and Jabiluka deposit. Via attrition it ended in a bidding war between Rio and Anglo. As the Robe assets were located near Rio's railway and port infrastructure, they won the bidding war.
Interestingly there was a sense of desperation from Rio last year when they prematurely/erroneously announced that the Mirarr people (traditional owners of the Ranger and Jabiluka areas)looked like they would give consent to the go ahead for the Jabiluka mine. Rio would save a fortune if they could bring on J before Ranger was decommissioned/wound down. They would have simply built a haul road from J to the existing Ranger facility.
If the EXT deposits are within economic haulage distance from the Rossing mill, the synergies/cost savings would be substantial, giving Rio a substantial advantage in any potential bidding war for EXT.
great value at 1.12, page-12
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Last
1.2¢ |
Change
-0.001(7.69%) |
Mkt cap ! $17.69M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.3¢ | 1.2¢ | $70.11K | 5.794M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 999999 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 8522683 | 4 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| EXT (ASX) Chart |