AOP (ASX) Ann: Trading Halt

Originally posted by thesnowkeepsfalling ↑

Interesting to compare this takeover to the recent SBM/ KIN offer, which was declined by KIN. Not dissimilar valuations, but AOP's prospects, resource, continuity of resource, drill work, and cash balance are all far superior KIN's position. KIN felt it was in their shareholders interest to decline the low-ball offer (even after including a dilutive 13M capital raise in the deliberations). Interested in people's thoughts - why are KINs/AOPs positions poles apart? Who are doing right thing by their shareholders?

I can say that RMS management have a good eye, and RMS shareholders must be pleased - there is a bit of guffawing over on the RMS thread. "Paying them out with their own cash.." etc

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Yeah Ramelius have a good eye but I wonder if the majors Goldfields/Anglo/N.Star will let them have this one. Maybe they will, maybe they have already. Maybe say a deal is already being done to toll treat the ore that Ramelius truck at say G.Smith, Sunrise or Carrosue.

100,000 ounces P.A its not what exactly what the Anglo/N.Stars/Goldfields of this world want but it is not immaterial. Goldfields/Anglo produce circa 500,000 ounces a piece from their Australian operations, N.Star must be significantly north of here say a mill plus. None of these operations probably want to toll treat ore, but at the same time what is left for the majors to aquire?

In the development space you have Degrey, or Bellvue, of the suitable scale. Not much left on the table at Degrey and too expensive for all except N.Star.

The fact is the exploration programs have thus far produced very moderate organic growth. N. Star have done the early aquiring and if you want to ensure growth... How???

Goldfields/Anglo could merge Australian operations but probably to complicated and I think this was floated before.

Someone here mentioned buying up Matsa, BNR, Apollo and Breaker. That would get the scale and maybe you build one plant. Still got to truck ore.
How far is it from Break of day to Rebecca?

Another thing an Anglo or Goldfields could do is also J.V 50-50 Bellvue with RMS and RMS truck to Magnet, plus let em do this deal with Apollo and maybe take a fairly passive equity stake in RMS.