Yes - have also been thinking of this also.
Doesn’t sound good !
I have been an XAM holder, which is now also under takeover offer. However left- field and interesting twist after Xanadu JV partner Zijin did not exercise their first rights exclusivity within their month.
The copper resources are very long life- decades ahead important copper resources which the Chinese need, directive even from the Chinese government this past quarter for copper smelter operators to make sure to ensure they will have copper resources & ore to feed their smelter , linked to any growth plans including. for many years and even decades ahead .
Now - to acquire copper resources globally also was effectively stated by the central Chinese government who have not been allowing more copper smelters to be built or existing to expand- approvals stopped / paused., and then this directive.
Zijin have a lot on their plate , Kamala disaster, and Xanadu and other companies trying to move them towards more action or commitment as well.
But the takeover party XAM, and shareholders have just got to swallow the fact that at least one board member xam, representing the major TO entity is also large shareholder the takeover company - who are already in ownership in Mongolia with royalty rights other resources , and local position and have negotiated previously into beneficial longterm situations.
Effectively the takeover entity are already embedded in mining companies and development and operations in Mongolia, which is essential.
Zijin however may yet act further and ought to pay at least 8.3c , price be worth to them equivalent to them to the 8c supposed unconditional TO offer.
Rather than let ownership XAM and jv partnership slip from their grasp.
Though the shares are worth multiples more, it is Mongolia !
Really complicated ++ Mongolian government can exercise their rights to significant % ownership also.
Not easy for an Australian company and even a major to develop and operate now it seems !
On top of increasing demands in certain African countries, mostly to do with bauxite, or particular minerals mining ,insisting on more up- processing in country.
Yes therefore re Rio headaches also with Oyu Tolgoi , though I think re copper supplies now - Ivanhoe /Zijin DRC major mine halt. with major issues to quantify and interrogate and assess & significant hit to global copper output and effectively to me knocking out the possible surplus global market had thought could eventuate , plus ongoing increases in demand— I take this to be a real global shock for copper supply and I think the price of copper.
I am thankful always for your copper quotation posts, and holding the torch, such that also I read you & ongoing here as you would realise.
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