Re BHP...not to mention on Eylandt ore processing plant; customers for their product; real concerns re diminishing deposits of high quality ore on current lease; only 14 years mining life on current lease; problems with TO's opposing possible future on Eylandt leases (i.e. the so called "Eastern"* and "Southern" leases); and the fact that Anglo-American (correct monicker?) holds 40% stake in GEMCO and has a history of interest in sea bed mining.
[*However re "Eastern" Leases- under an agreement between TO's and GEMCO signed in 1987, currently in the throes of being challenged by current ALC leadership group, it seems that exploratory drilling may well proceed]
TO's have always been concerned that GOT seek a buy out by a multi-national.
Read your post verbatum to one of GEMCo's senior managers and am just off the phone. His reply..."that's drawing a very long bow"...and... "I've never once been in discussion[s] where thats been brought up..."
Wonder if they did buy GOT out if they'd run the line that it's to protect the sea bed from mining just as they did when they staked sea based tenements adjacent to GR's.
My position, reiterating something from a previously moderated post: "Never trust a mining company."
GOT Price at posting:
20.0¢ Sentiment: Sell Disclosure: Not Held
