IMO, our current MC is peanuts compared to our peers and this together with the solid green candle on Friday together with the strong EV / lithium news flow atm (eg. India 2030, Norway $1 trillion fund wants to de-risk against oil, EV bus news etc) together with the fact that RIO still hasn’t put to bed the SQM rumours may entice many traders and investors to re-enter or average down.
Look at the MC ! And dyor
Hot off the press, will require translation:
Rio Tinto ya estaría trabajando con bancos en oferta por participación en SQM
“La posible oferta de Rio por SQM se produce cuando Mick Davis, uno de los principales negociadores de la industria, dijo ser un candidato líder para ganar el puesto de presidente. Las acciones han registrado un alza del 12 por ciento en Londres este año.”
Here’s a separate article from the AFR on Michael Davis and RIO succession:
Michael Davis leads Rio Tinto succession race
“With the shrinking bit done and with the surplus cash generated deposited with Rio's increasingly sated owners, Rio's time to add to its world will come. Those growth options may stretch from copper projects in the US to lithium in Serbia with the possibility of spending better than $US4.5 billion along the way on acquiring 32 per cent of SQM, the world's leading producer of lithium carbonate, and which has interests stretching from existing production in Chile to new projects in Australia.
If portfolio growth really is back on the agenda at Rio – and it is – then there is arguably no better talent available to help guide Jacques's hands.”
