they dont care about market cap. they only care about...

they dont care about market cap.

they only care about transaction details - ie. would buying a miner increase or decrease their avg aisc, output etc vs price theyd have to pay

thats why im baffled they havent bid for rsg yet - its being priced as a quasi developer - which being matched to a strong cashflow miner would immediately resolve - and its jewel asset syama is a complement for any major miner - even before the new dfs.

market hasnt priced anything in for bibiani or nafolo let alone the minority equity stakes - so that would be pretty much free upside

the only fly in the ointment is having to pay that t/o premia for an aussie operation most waf operators wouldnt want - but that shouldnt be an insurmountable issue with so much value in the waf assets

if they wanted they could just agree to spin out the aussie operation as a standalone they retain an interest in - so mgt doesnt lose time worrying about a non core operation - if they didnt want to trade sale

a well regarded larger intermediate size operator (500-1mkozpa) - esp the one gives better multiples to - would immediately get halo valuation upside simply from the massive resource inventory boost

and in current world market significant debt component funding of such a deal would be v straightforward

rsg will do great standalone

im just surprised the North American's - who tend to go more for african gold plays - havent recognised the opportunity - esp if they could use USD purchasing power