posideon and ravensthorpe ni, page-30

According to the Fin Review on the weekend, predictions are that Yabulu may have sold for US$125Mil or even less than $100Mil. That is an absolute bargain for a multi billion dollar plant (however is 35yrs old).

IMO it indicates a few things.

1. BHP is definitely not committed to Ni and wants out. Even though they deny this.
2. Ravensthorpe and Lenster will be next (probably in the coming weeks).
3. For that price Palmer will be going for the other assets, even though he denys this (who wouldn’t at these prices).
4. Palmer is going to get fatter and much richer! Plenty of cash for donuts.

I honestly hope POS and Twiggy at least give Leinster a crack for this is a once is a decade opportunity to pick up some cracker assets because of one companies short slightness. I don’t think Twiggy would like Parmer to beat him in the Ni game and hopefully he may be doing something about it.

The good news out of all this for POS holders is that BHP’s withdrawal from Ni is probably the catalysts required for Norlisk to sober out and make a decision on Cawse.

Things are really heating up in the Ni game.

Cheers

GV.