Mick the Miner

http://www.mining.com/mick-davis-has-now-almost-5-billion-to-build-new-mining-empire-22675/

... join the dots on this one folks!

Mick Davis was CEO of Xstrata when PJ sold Resource Pacific in 2008 for a little over $1Bn. Maybe there is a connection still?!?!

Now running X2 Resources, 'Mick the Miner' has almost $5Bn in the kitty, (of which Noble Group have contributed significantly) and is on the lookout for "mining companies under the financial strain of getting funds for ongoing projects, and are forced to sell at very low prices"

RES have announced numerous times they are currently negotiating alternative funding solutions. Hmmm!

Mick's investment philosophy is "based on the belief that urbanization in China, India and some parts of sub-Saharan Africa would send the prices soaring for the copper used in everything from plumbing to the coal burned in electricity plants."

Mick Davis is a South African born mining entrepreneur. The article suggests he is cashed up and looking to spend.

IMO finance negotiations with our little banking syndicate have gone cold. Perhaps X2 Resources are somehow involved in the 'alternate funding solutions' PJ has been alluding to for a while.

It makes sense to me.

How all this might pan out is possibly the subject of PJ's negotiations, but hopefully shareholders interests remain a top priority. Considering PJ has such a large shareholding in RES, I think that's a given.

Anyone with some corporate finance knowledge care to speculate on what possible scenarios could be in play???

Cheers, Rob