7.5 million pounds is a lot of money to keep as credit for an ongoing relationship with CGNPC so I guess it is Honnen's way of telling RIO to make up their mind one way or the other instead of acting with a spoiling stake and dragging their feet in Namibia.
I forsee RIO pushing for the cheaper option of JV rather than outright take over. Ranger and Rosing is not going to make them world class serious producers anymore. Will CGNPC agree to this kind of deals?
We have ML, drill results to keep market guessing on valuation and we still have CGNPC stalking to keep speculators interested in punting on a take over. The 2 major bad news (Fukushima & nationalism) out of the way, spot prices rally will be eagerly awaited to trigger re rating of SP. Plenty of good news to come shortly.
EXT Price at posting:
$7.40 Sentiment: Buy Disclosure: Held
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