Is it some kind of "poison pill" play to head off a takeover? ie buy an asset that doesn't fit the profile of the hostile taker-overer so that they have to cough up even more cash and for mining assets they don't want ie Uranium?
I recall Lihir bought Ballarat gold fields, that was some poison pill, certainly put off a takeover until Lihir figured out it was a dud and got rid of it for a song, might have helped management cling on to their jobs longer but didn't help shareholders (actually as a BGF shareholder it was a stroke of good luck....)
I bring up Lihir by way of comparison to GDO's so far excellent management of course.
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