I think once they de-risk it by getting a Tanzanian bank on board and subsequently the international consortium they will have it wrapped up in a bow and put a for sale sign out. It'd be too risky for a TO before the mines department gives them the next tick of approval. Seems to be just taking longer than expected for the Tanzanian bank. Maybe they don't have the right people for the negotiations or haven't bribed them enough. It's trading way under what it should be at this stage of the cycle. 40% of the NPV would probably be fairer.
ORR Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
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