Ann: Becoming a substantial holder, page-12

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zereal

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30/11/22

13:47

Post #: 65072918
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Originally posted by eastwest101: ↑

Lots of unsurprising talk about possible AMI/AIS merger stuff, both are undervalued and AMI still dragged down by high operational costs (which AIS will also be feeling), as far as AMI is concerned removal of the CEO is one part of the puzzle unlocked and the other two main issues are getting rid of Dargues and addressing cost pressures.

Other posters make a good point about AIS absorbing and working their way through the Round Oak assets and sorting them out but there are some profitable parts of the AIS business and they have a larger cornerstone investor (WH Soul Pattinson) who are patient and maybe prepared to act if the opportunity arises.

I am still thinking the Bill Beaument SPAC vehicle that purchased the CSA operation, and Beaument's track record in deal-making and canny acquisitions & involvement in DVP (with them picking up Woodlawn) might play a part in some sort of consolidation/M&A activity in Western NSW in the base metals sphere. The other part of the puzzle as yet unresolved is PEX with their stranded asset of some significant orebodies near Cobar with no pathway to production yet (and Jim Simpson on board with PEX). Between what AIS/AMI and PEX have in the ground already around NSW there is enough copper/lead/zinc/silver and gold to form a sizeable producer but I think it's just a case of copper prices getting high enough to incentivize this new supply. Everyone can recognize the looming copper supply shortage but for various reasons, there still is a lack of capital to get new supply built/developed so far.

I'm just wondering if this M&A activity is going to be opportunistic, and precede any rise in base metal prices, or whether its going to take higher base metal prices to launch this activity.

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I too wonder whether PEX would do something here. Would be a game changer for them and a great opportunity given current sp.

AMI Price at posting: 15.5¢ Sentiment: None Disclosure: Not Held
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Ann: Becoming a substantial holder, page-12

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