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Thanks for that Acceptances come is April after the boards flat...

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Teddybear123

3,130 Posts.

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23/03/23

12:24

Post #: 66920197
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Originally posted by KKR: ↑

Another update from Euroz Hartleys

Key points to note;

BHP concentrate is mixed with MCR Concentrate to produce the saleable product. BHP concentrate has a low Fe:MgO ratio, which needs to be blended with MCR’s high Fe:MgO material to reach the correct specification.

The bidding war between Wyloo and BHP took a few weeks to start. BHP is a slow-moving beast.

MCR is the highest-grade Ni-focused producer on the ASX.

IGO and Wyloo entered into an agreement in February 2022 to jointly evaluate opportunities for downstream Ni processing in Australia.

The image below is of the bidding war timeline between BHP and Wyloo for Noront (Listed in Canada).

Wyloo’s initial bid was C$0.315/sh (a 31% premium to closing price previously). The final bid at C$1.10/sh after nearly a year-long bidding war with BHP.

We have a Buy rating and $1.80/sh PT on MCR.

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Thanks for that
Acceptances come is April after the boards flat out rejection Wyloo will up it to 1.60 imho you will find BHP will come in then if not before with a knock out bid
MCR Price at posting: $1.59 Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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