Anglo Gold pass it up saying it doesn't meet their return metrics and the CEO of Newcrest today comes out and publicly says it was an inordinately highly priced acquisition in the high single digits (who pays that and makes it work in resources- go on, I'm all ears, DO TELL ME) and that Newcrest wouldn't consider any deals that were not in the double digits (read commercially sensible/viable) and further then had to have the clear capability to add value to (which Tropicana doesn't). The valuation ascribed has been dismissed by Anglo, the majority holder and now by the the CEO of Australia's largest gold miner at a large public gold conference and yet you contend it still stacks up. I'd consider they have the "vastly more experience" you refer to but sure, you're better informed than two of the largest industry insiders. Go figure.
RRL Price at posting:
$2.85 Sentiment: Sell Disclosure: Held
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