"If it is a Newcrest/Barrick/Goldfield what will OTML do in reaction to the announcement? OTML hold a large number of FNT shares could they dump the stock hurting the SP? The other thought was whats stopping them making a TO of FNT outright?"
Why would they, the value of their investment will increase?
I expect the new major will not be given any equity in the company, but the JV will specific to the lease involved. So no danger there.
Also at this point as far as we are aware, OK Tedi have access to the leases they wanted for just under another 3 years.
As for a TO, that would be interesting as we would ahve a bidding war with two majors working on two different projects at once. That would be a good thing :)
announcement, page-17
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