SER were riding on NCMs coattails for progressing Barkly. No early success for SER and with NCM being swallowed by Newmount this makes sense for SER to divest. Why would MDI acquire them doesn’t make sense to me except for land banking.
All of which does make me wonder on what is the impact to ICG in ET especially with NCM. Newmount seems to focused on the Tier 1s in the combined portfolio where even the likes of Telfer or Havieron may not make the cut. so some of the early stage exploration may go on the back burner for a while.
Ann: Exploration and Corporate Update, page-61
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