Tend to agree with you BMW, looks like a pretty poor purchase at ~11% ROE with no risk adjusted.
Newcrest is a miner not a royalty streamer, this is not core to their business, so many better discounted acquisition potentials out there that offer organic growth but they pay full premium for what is effectively a junk rated bond. Strange, I thought they were smarter than this.
Ann: Trading Halt, page-30
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