There are two weeks left for XStrata to offer a price for 51%. If the companies can agree then negotiations will probably commence for all 100% of Roseby.
If this is the case, Altona could suddenly have a bucket of money which would translate directly into a share price. They would still be earning from Outokumpu and yet be on the lookout for investments, and at this time they are going to be good value. Some money could be returned to sharehaolders as a dividend.
I would not be surprised if sometime this week Altona have an announcement concerning their Roseby drilling program, and consequently increasing the size of the resource.
We are approaching an interesting time.
AOH Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
