Hey Auto/yatchyHow do you calculate the 80 million in the bank...

Hey Auto/yatchy

How do you calculate the 80 million in the bank Auto? MS said on boardroom radio today they have 65. Probably the 72 they had at 30 June less the 4.99% purchase in IPM. I hope your right anyway.

I got 100,000 more in the afternoon at 33.5. Think its a bargain but thought that when I first bought in heavily on the way down at 46 so probably 29.5 tomorrow LOL.

Auto, what chance do you reckon cooper has with the takeover? Everyone seems to give them no chance.
I am liking COE chances at getting IPM with the cash bid more and more in this market. IPM illiquid stock, market is on the brink, institutions must need some ways to get out without taking a hit or even realising some gains for a change against all their losses.


Are you guys concerned about the oil price. Think I will be if it gets to the sixtys again. Still happy with 93 for tapis when the dollar is 79 cents.

Cooper in a much better position with $22 per barrel cost of production then the base metal producers whose cost are more then the spot price.

I think even in a bull market at the moment cooper would only be in the low 40's because their is no drilling activity. The sharemarket crash might well work in coopers favour at the moment with no price sensitive news arriving until december and gives them an opportunistic crack at IPM. Notice how their are no takeovers when most stocks are cheap but plenty when the market is roaring. Good move I reckon by MS longterm. In hindsight mightbe like BHP takeover for WMC or Xstrata takeoverof MIM and look an absolute steal. However, still don't think IPM shareholders realise they are getting cooper shares for a bargain.

I just hope MS has a plan B, C & D to get incremental. Won't be disappointed if he offers some more cash.
I'm a bit disappointed about maintaining the no dividend policy however with 21 million in its franking account.