Agree snooker that a super transfer is a strong possibility and all will be revealed soon enough.
Interesting to see what is happening with some other mid cap copper miners based in Australia atm - YTC and KBL both increased 30% over past two weeks, while PEX went from 9c to 36c and settled back to 28.5c on Friday. Looking at each of these gives comfort that if Xstrata or MMG don't deal, AOH is still good value and due a re-rating.
The flip side is the X men will be hard pressed to find an opportunity like Roseby and you would think a deal benefitting both wouldn't be too hard. This is not the time for greed from either side IMO and talk of "make em pay AC" ain't exactly my stance.
Nevertheless, there is no need to give them a bargain and agree with others that if we're talking all of Roseby, then a few hundred mill would seem to be a fair minimum value given the resource, permits and economies for Xstrata.
Reckon we've got a few more weeks to play out yet, though would love a breakthrough. BHP Olympic Dam decision is a positive IMO and may influence the X men to ensure a deal is reached.
AOH Price at posting:
29.5¢ Sentiment: ST Buy Disclosure: Held
