Dear Moondoong
The Nickel price has gone up considerably more than envisaged which has obviously generated a lot more cash than envisaged so.....you get the picture!
By the way, I estimate the Minara equivalent on the Lionore current offer from xtrata at (at least) $12 but it could be higher if you use the 16 times annualised first quarter earnings on which the deal was srtuck.
Regards Eos
Regards Eos
glencore boys in bed with xstrata, page-3
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