Analyst View, page-39

good points loki

from my perspective though

1- mkt cap will likely be 1/3rd evn's with 80% of its profitability
2 - EDV group aisc is supposedly going sub $us800 with the new mine
3 - im high conviction USD is going to soften as US dips into slowing growth - off the back of which there's likely to be a large inflexion in relative profitability

So for me its a longer term trade. AUD cost base golds have had a good run so not sure theres much upside buying them unless you see USD gold rising in any event.

If you see that - then EDV is compelling

same reason why I hold rsg.

i ignore m&a myself - talked about all the time - relatively rare it occurs. esp given rsg's ownership

but yes - pru and rsg merger is probably the most sane concept I;ve seen from a purely objective viewpoint - uunless rsg can change its support profile with investors.

clearly not much high conviction insto buying