It’s just the way I’ve seen ‘accretive’ being used when...

It’s just the way I’ve seen ‘accretive’ being used when companies do takeovers. Typically in the phrase ‘earnings-accretive’. Clearly NPV is most important but I’d argue Centamin are relatively desperate for earnings diversification soon given their share price performance. The market may not be satisfied with that earnings diversification being 2 years away.

Generally I don’t feel like we’re at a stage (yet) where investors look positively at companies doing takeovers of development assets. The market seems to be only placing development assets at higher valuations once production is proven.