BHP have certainly sparked off a takeover frenzy which will expand the fight between the Chinese and Australian majors into the area of picking up Junior miners.
Cannot say that the Chinese will not make a bid for AGO but for sure the premium will be high as AGO do not really need their cash in order to achieve their strategy.
What I am certain on however is that this frenzy has just upped the price of its Ridley magnetite project. I had previously mentioned that the Ridly sale process can drive the SP up by 15% but with whats heppening I am revising this up to 30 and minimum we could be looking at 3 times exploration costs.
That will be a huge pile of cash for Atlas and they will then really become a seasoned hunter for junior smaller scale assets.
BR
Max
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