Interesting read - thanks. I'm surprised that AIS were even let in the door - they would have no way of buying this asset, and zero chance at raising capital or borrowing to do so. I guess SFR had a look, but between Matsa in Spain and their expansion in Botswana they probably didn't want to overpay and/or had more on their plate than buying Northparkes.
The real surprise is that MAC Metals Acqusition Corp's bid wasn't good enough, I think they overpaid for CSA and now they must have PTSD about overpaying for assets, so might have put in a half-assed/modest bid, which got blown out of the water by Jake Klein and EVN's bid.
For gods sake don't tell the market but EVN is now looking like one of the best ASX listed Copper producers after their earlier acquisition of Ernest Henry and now Northparkes. OZL is gone and BHP isn't pure Cu exposure and most of the other ASX listed Cu producers/miners look like basket cases at the moment with only a very few exceptions.
Well done Jake - I think this is a good deal for EVN shareholders.
EVN Price at posting:
$4.14 Sentiment: Hold Disclosure: Held
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but EVN is now looking like one of the best ASX listed Copper producers after their earlier acquisition of Ernest Henry and now Northparkes. OZL is gone and BHP isn't pure Cu exposure and most of the other ASX listed Cu producers/miners look like basket cases at the moment with only a very few exceptions.
(20min delay)