In an interview 2 months ago, GGP'S MD Shaun Day said he wanted GGP to be a multi-asset, multi-billion dollar company, and consolidate in the Paterson.
He was asked, "Why are you not land grabbing more of Paterson?". He answers "...we continue to have conversations with people who hold land packages that we have an interest in".
He then says, he "wants to form strategic alliances with other organisations in the Paterson, to unlock value".
So I guess this has been part of the plan, and now with Twiggy and the new board, has more firepower, and sentences like "unlock value" actually mean a lot with Twiggy Forrest involved. It would suck for AZY holders if we got bought out cheap, but there'd be reasonably good prospects in future. Our management knows what's best and what it's doing,...all the big dogs are here now because of Antipa's vision.
IGO has the second largest landholding in the Paterson. If Twiggy takes over IGO, he gets an additional +5,000km² of prime ground in the Paterson, plus all the nickel, lithium and green energy metals that Twiggy has been chasing lately. Could potentially be a major play at hand.
AZY Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
(20min delay)