At Chalice Mining (ASX: CHN, A0JDKP), it now seems to be an open secret in Perth that billionaire Gina Rinehart has stepped in over the past few weeks and is just under the reportable 5% hurdle.There is also said to have been another quite aggressive buyer, who is said to have bought well up to around A$6.50, but always through different brokerage houses. Long story short. If Gina Rinehart is in the game with Hancock Prospecting, chances are there will be a deal - meaning a takeover.That's how she usually proceeds when she takes a liking to something.There may be some things that need to be worked out first, especially permitting and land ownership in the region, but basically I think the odds are pretty high that Chalice Mining will be acquired in the next 9-12 months. Realistically, I think AUD 8 - 10 is possible.The biggest risk with the share is in my view the metallurgy for the nickel. This still has to be "decoded", whereas the other metals are not a problem. If you can achieve a higher yield in nickel, then it should look very good.
CHN Price at posting:
$5.96 Sentiment: Buy Disclosure: Held
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