IMO, not getting rid of Nickel West back a few years when the opportunity existed was an inexcusable stuff up by the board. That business had none of the excellent characteristics that BHP usually look for in an asset. A hodge podge of very low return on capital, mediocre at best Nickel West assets strewn all over the place. You couldn’t make it up, they have to buy product off another nearby miner to make the concentrator at Kambalda viable. That in itself doesn’t sound inspiring, it doesn’t leave you in a strong position to bargain.
BHP Price at posting:
$45.03 Sentiment: Hold Disclosure: Held
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