Hi Cate88,
Jesus that makes me look a bit silly. I should keep my mouth shut!
And I am actually very surprised. Newmont used to be great explorers. But now they are selling the exploration-development assets (Telfer/Havieron) and buying the lowest cost, highest volume, and presumably therefore highest margin gold production (Cadia).
Selling risk/buying certainty! An accountant's mining company. Where's the thrill in that?
But optimistically, as I'm sure you would agree, this does finally unlock the potential takeover situation in the Paterson. Well-and truly!
And for many reasons, this does seem likely to be the bottom for gold.
Rather typical corporate thinking: BHP selling Nickel at the bottom. Newmont selling Telfer.
But I think I'd better keep my optimism to myself for now, and just see what happens.
Cheers,
Onceover
Hi Cate88,Jesus that makes me look a bit silly. I should keep my...
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