I have checked the crystal ball and the latest commodities price of copper (over U.S $8000t) and this is my speculation on the outcome of the Roseby option.
Xstrata has in past option agreements taken control of the project by buying out a controlling stake in the joint venture partner. I have previously given the example in the Tampakan Copper project in the Philipines.
This could easily be accomplished by making an offer for any number of the top twenty stakeholders to back a full takeover offer for Altona.
My guess is that the offer would be for AU $320 million at 0.60cents per share. This will hopefully turn up in the first two weeks of 2013.
Tongue in cheek my next course at Tech will be studying clairvoyance.
On a more serious note anything is possible, and Merry Xmas to all long suffering shareholders. Is anyone inviting Maloney or Ingram around for Xmas dinner??
AOH Price at posting:
25.5¢ Sentiment: None Disclosure: Held
