MSM seem to take note:
1) Glencore buys up YTC in consolidation move
by: Barry FitzGerald From: The Australian
March 09, 2012 12:00AM
COMMODITIES trader Glencore has taken time out from its $US90 billion ($84bn) merger with Xstrata in London to assemble a 6.49 per cent stake in ASX-listed copper and gold developer YTC Resources.
...
Glencore owns Cobar's mainstay copper operation, the CSA mine. Its move on YTC is a classic consolidation attempt and follows recent board turmoil at YTC. ... Yunnan Tin owns 23 per cent of YTC (directly and indirectly) but held four of the eight board seats, including the chairmanship with its casting vote power. But the shareholder revolt cut Yunnan Tin's numbers to three nominees on a seven-man board.
The revolt was a response to the fear that Yunnan Tin would be more interested in securing metal supply from YTC's future mine developments than it might be towards takeover bids, the potential for which has arrived with the entry of Glencore.
(more)
http://www.theaustralian.com.au/business/mining-energy/glencore-buys-up-ytc-in-consolidation-move/story-e6frg9df-1226294104977
2) Besides takeover talk, there is also another theory forwarded (which I like better):
''With Hera about to go into development, people are lining up for offtake agreements,'' Hartleys analyst Mike Millikan said yesterday. ''Glencore would be looking to take the concentrate to market.''
http://www.smh.com.au/business/glencore-grabs-stake-in-ytc-20120308-1un8h.html?skin=text-only
MSM seem to take note: 1) Glencore buys up YTC in consolidation...
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