eureka report, page-2

Remember last year when Andean was bought out for 3.6 billion on the back of a 3 million-odd ouncer (with 20 odd of Ag)? What's the market cap for BDR... 500mill?

At the time, Argentina had only 12 metalliferous mines in the whole country. Only now are others opening up. Brazil, by contrast, has the world's biggest iron ore company (Vale, in 30 odd countries now), the world's biggest private miner (Votorantim) and Petrobras believe they will be the world's biggest oil and gas player in 10 years (they're in more than 30 countries too).

Brazil is a wonderful location for mining and is in the Fraser Institute's top 15 or 20 loctions in teh world for mining (20 spots above Western Australia, may I add).

What am I getting at? Massive takeover target based soly on the resource and ability to mine its Brazilian assets. Tropicana is a bonus. Iron ore is a bonus.