Noticing the Van Eck selling down of NST, thought I better look at why. The rise in SBM, MLX and EVN makes me think Van Eck may be buying these. Had a quick squizzie again at EVN in today's preso. Will look further on w/e.
Am I wrong? With 300m new shares for La M coming on that will give EVN just over 1b shares, making a M/C of $1.1b+. About the same as NST. Combined production roughly same as NST (530-600 v 550-600). AISC about the same ($1030 v 1050).
Of course I'll need to check reserves/ resources, but reserves seem similar as do hedging.
But here's the clincher, EVN will have debt of about $200m (post merger) whilst NST has cash of over $110m.
Info and any mistakes before w/e research welcome.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)