$?Bill in a ? Life mine, page-15653

If you’re Glencore, do you really want HCH sitting at fair value or would you rather have them struggling to raise money and have one foot in the door? OZL’s take over move only makes me more convinced that Glencore are gona make a move on HCH at some point and I think CE knows it too. The majors need minerals, and this is cheap. If you were going to mine yourself (from a junior explorer) then you’d set up to mine the low hanging fruit and add to the resource when it was financially prudent to do so (wouldn’t you?).
My take is that HCH is doing the exploration on behalf of Glencore who are going to look after CE, MB and co when it comes to TO time. It simply doesn’t make sense to me to spend so much on exploration when you know you’ve got to go back to the financial well again so soon.