Being a M&A thread, I'd like to understand who people here think we should acquire, be merged with, or be acquired by.
For me, there are two that I see that make sense, but one is for selfish reasons (although entirely valid), and another that I don't currently own, but have done a bit of research on.
Nova Minerals
Disclosure, I'm a (quite vocal and critical) holder of Nova Minerals - NVA, but I think their resource at Estelle is an amazing prospect with some excellent grades in a tier 1 jurisdiction (Alaska).
Estimates (expectations?) of 10m ounces across 2 prospects by the end of the year with a 4.3m Oz resource being upgraded and expanded, and another resource with "Bonanza" grades over 400m in depth.
There are a lot of questions around the decisions and actions of the board, as well as the suitability of management, despite their enthusiasm, to build a multi billion dollar company.
A share price / market cap of $277m that is in the doldrums, and a couple of large catalysts in the near term.
I'm not sure what the board would accept, but I think $500m would force people to consider the offer and $750m ($75/Oz @ 10m ounces) would get the deal done.
A lot of upside to come also.
Barrick Gold
One of the majors that have suffered pretty significant (30%) declines in the last 12 months.
No operations in Australia, and criticism for over exposure as an overall percentage for their Nevada mines.
A number of Operations in non tier one locations like Africa, South America and PNG. Our mines and reserves would result in a positive rerate for the company.
They have plenty of cash on hand, and the ability to add turn key ounces would be very appealing to them.
Obviously there are a multitude of opportunities, but I'd like to hear what others think, and why.
(20min delay)