a major will try to low ball this soon imo , after they've accumulated around 5%-8% stake through the holding co's (maybe more).
probably an offer around the 400mill mark , which would see them only paying around $100/oz for the gold "in ground" (assuming 4mill/oz)
more "realistic" offers will materialise from there imo...
Lets line up the candidates:
Semafo is a likely suitor , as they have a very simluar style of ore body to amx and know how to work it already. plus they aren't that far away from amx. Problem with Semafo , is that I reckon they would have to tap out if the bidding got over 400mill, as they don't really have that much cash at the ready, but are debt free , so maybe they will borrow the rest for a bigger bid ??
Newmont , that has shown increased interest in burkina faso lately , will most likely trump any low ball bid made by semafo. I think newmont are very keen to get a project up and running in BF , as they see the potential to make further greenfeild acquisition once they have a successful mine up and running. Same goes for Barrick africa also.
Time will tell , any speculation at this point if superflous really. We just need to wait and see imo.
AMX Price at posting:
96.5¢ Sentiment: Buy Disclosure: Held
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