Further to yesterday's discussion on Twiggy's demand for Nickel assets.....apart from being involved in a bidding war for WSA in WA, overnight he has come back strongly to overbid BHP for Canada's Noront Resources upping their bid by 27%.
With Twiggy's cross shareholdings in WSA, PAN and MCR we will see all quality Ni sulphide miners do well today on the back of this increased momentum in nickel corporate activity.
Listening to the Small caps interview again last night SW's decision to hold back finalising our equity partnerships because "there will be a scramble for our products and we will sit back and see who is the highest bidder" is good for SH's given how cheap we are trading at(ie 150m MC) and his strategy is also strongly supported by this takeover momentum. It also shows how confident they are in terms of the number of interested parties wanting to get involved.
What is interesting is the contrast between the Small caps quote and the quote in his next interview 2-3 weeks later(ie Barrie Fitzgerald interview) stating that we could get a partnership Ann soon.....that indicates to me that there is potentially an equity partner who will pay a premium to the current market price to move up the pecking order and may sharply bring forward the timing.
Hopefully a positive day but SH focus should remain on being patient as our strong fundamentals will support the SP outlook even if in the short term the price appears to be suffering from some sort of accumulation activity.
GLTAH DYOR
BSX Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
