Buying in support channel, page-3

I got my sub 18c top up all done so I am fully loaded up now and ready for this to have its run!

Nickel enters the spotlight as consolidation looms, BHP is planning to exit oil and gas, detailing some early plans to sell its petroleum operations to Woodside. BHP management’s recent manoeuvres have made clear, Australia’s biggest miner is betting big on nickel. With a deal signed between BHP and Tesla back in July.

BHP is going to need to find more projects to make this deal feasible. After all, their current nickel production accounts for less than 1% of BHP’s earnings .As a result, BHP will need to buy its way into the nickel sector once more.

BHP launched a bid on Canadian nickel miner, Noront Resources, for $351 million. A contentious agreement that is likely to see the big miner snatch this project away from an equally interested Andrew Forrest. With Forrest’s own Wyloo Metals having launched a smaller bid for Noront earlier this year. This one deal has now set the stage for a clash between two of Australia’s mining heavyweights. With both BHP and Forrest now scrambling to get a hold of nickel projects.And the latest company to enter into this potential bidding war is Western Areas Ltd [ASX:WSA].

We could see the start of a serious bidding war...

Andrew Forrest has a 5.28% stake in WSA. Split between interests from both his investment vehicles Wyloo and Tattarang.Forrest has been quietly buying stock since March on Friday after his stake exceeded 5% that this information was made public. Forrest is clearly looking to enter the fray for Western Areas takeover talks. Which could lead to a bidding war between IGO and Forrest.

The real X factor though is the possibility for BHP to put their hat in the ring too. After all, Western Areas already has an offtake agreement in place with BHP. A contract that is set to end in January 2023. Western Area’s physical mine is right between two of BHP’s existing projects.

This may then open up other Nickel miners and mines which could play well for PAN... the question is will this have any impact on PAN pricing as it all plays out especially as PAN bring the mine into production????