Large correction in all the copper majors has now occurred. BHP should consider flexing its new simplified structure, balance sheet flexibility through almost no net debt and take out a copper major. Cash/script, ie Southern Copper? Or perhaps Freeport? Divest off their tier 2 mines if they don’t want them post acquisition or simply spin off those tier 2 assets into a new listed entity. I’d be happy with a new company housing some tier 2 copper assets (ie think similar to OZL, albeit bigger and more exotic locations ).
This is the perfect time in my view, or perhaps they need to wait a few more months so shareholders are more willing to accept an offer as the share prices stay depressed.
BHP Price at posting:
$42.52 Sentiment: Buy Disclosure: Held
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