BHP will have to do better than that. All I saw was A VERY LONG list of conditions set by BHP.
If they really want our shares, then I see no sense in making a long list of conditions.
I rather have the Chinese on board with a stake in our company.
jojo, I doubt FMG will come in. FMG just had the bank funding deal with the Chinese failed. So they will use their cashflow to fund organic growth with their existing mines to boast production.
A scrip for scrip offer by Andrew Forrest is very low possibility. Forrest is a well known guy for not issuing new scrip to dilute his holdings in FMG. He's a man who rather go for debt than issue new equity.
Reportly, why the bank deal for FMG with the Chinese failed, was because the Chinese banks wanted some equity as part of the deal as security for their lending of funds. Forrest did not like the idea. Thus the deal failed.
Our only hope now is for the FIRB to approve CRM's application for the 11.38% stake.
Maybe RIO might be a player, but I doubt FMG & AGO.
UMC Price at posting:
91.0¢ Sentiment: Buy Disclosure: Not Held
