AOH 0.00% 12.0¢ altona mining limited

less than 1 week to go! :-), page-19

  1. 1,426 Posts.
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    With all the pessimism around here, the best opportunity may be tomorrow.

    If I were the BOD and suspected Xstrata were going to walk, like so many on HC seem to believe, I would be building a pretty strong relationship with other willing partners to fill the gap left.

    Could you imagine the SP if a trading halt is announced, lasts three days and the news comes out:

    'Xstrata has walked on their option for Roseby, however we have evaluated our options and due to our strong relationship with MMG have decided to enter into a binding MOA. Under the terms of the memorandum, MMG can earn 51% of Roseby by providing full funding through to production and a payment of $50million. The $50million will be held in escrow and will be forfeited to AOH should Little Eva not be in full production by 2014, unless an extention is agreed by both companies.

    We would like to thank Xstrata for the considerable funding provided to prove up our resource and wish them all success in getting sufficient ore to feed their Mt ISA Smelter which we appreciate they have been struggling to achieve.'

 
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Currently unlisted public company.

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