GK has said he has a $5 billion war chest. If he spent, say, $200-300m on AAL's Ni mines, Mr Market would shrug. Journalists and the ill-informed would pontificate for a while about the Ni market being ruined FOREVER by fresh Indonesian supply, then turn their attentions to the next shiny object.
On met coal, S32 made clear its strategic intent to become a base metals powerhouse in Cu Al Ni Zn Ag Mn. Illawarra was both a cash cow and a capex sinkhole. They wanted out.
Whether buying AAL Ni has any merit is not up to you or me. S32 will act on the opportunity or not.
I note your Sentiment: Sell/Not Held, a sour assessment even without this Ni pipe-dream.
Ash
S32 Price at posting:
$3.01 Sentiment: Buy Disclosure: Held
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