kicking myself I did not load up a month ago...
I bought TIE a year ago exactly for the reason the Chinese would be throwing in a TO at some point when they came on the registry heavily and PRU always an option with so much cash and strong African experience....
Would a satisfactory offer be at or above the 85c we got to at the beginning of the year??
Jan 16th 2023 POG was US$1918, TIE was 85c
Nov 3rd 2023 POG was US$2003, TIE was 60c
Clearly the issue around production under performance versus DFS is the discount but have they turned the corner as indicated by the latest quarterly?
I think an increase of 30% from the Chinese to 74c is the best we can expect if there is no competition.
From PRU's Chairman and MD/CEO at the PRU 2023 Annual report 31st August 2023"In the meantime, we will assess and pursue otherorganic and inorganic growth opportunities inAfrica, and elsewhere, as they arise. We keep awatching brief across many projects and withapproximately US$800 million in existing cashreserves and undrawn debt capacity at our disposalalong with expectations of continued strong cashflows in the years ahead, we are well positioned
to capitalise on any opportunities that, uponevaluation, demonstrate the potential to generateadded value for our shareholders, in line with ourcorporate objective."
Any other goldies that might be interested in TIE???
