"As an existing holder of SMI, I really dont like the RTO, too generous to "outsiders" IMHO. "
Yeah in a perfect world where everyone cared more for others than they do for themselves. Unfortunately the realities of these RTOs are unvaoidable....see my post here about my views on HCO which explains how I've come to feel about these situations:
Re geology again this is not a concern for me (explained last sentence of this para), the problem with CLQ and AUZ is they went the HPAL route, and in AUZ case completely lie about the expected CAPEX...and still are. CLQ I wouldn't writeoff because thought they understated the CAPEX as well, not intentionally and it was more realistic, and Friedland probably will get the money for it anyway (the only company I think can in Australia imo), though I hate the HPAL stuff anyway and therefore only have a few in super fund. I Went with JRV instead because they told me they were going heap leach, and they did....though obviously at current nickel and cobalt prices that doesnt stack up either atm, it will have better chance when they uplift. I'm a big believer in nickel and cobalt crunches coming so hence I am not fussed about geology, I am however fussed about PROCESS!
But if your that keen on it, I'm sure there'll be an independent geo report on it eventually as part of the transaction. I unfortunately do not have the materials I saw previously...it was many months ago, I'd compeltely forgetten about it tbh until my BW broker mentioned it to me that was RTOing thru SMI
SMI Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)