Thoughts on next best move:
On a Enterprise value to resource Sphere Minerals on the surface does appear more attactive.
However Sundance has a better relationship politically and also has a higher grade resource.
More importantly Sundance does not have any large blocking holder on their share registry (eg. no Chinese or Indian interests).
I really do not understand why Xstrata would not approach Sundance vs Sphere Minerals in terms of a Joint Venture Agreement / offtake agreement. As the bidding war for Sphere Minerals increases, it makes Sundance increasingly the most compelling opportunity in Africa as an Iron Ore partner.
DYOR,
KJ
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Thoughts on next best move:On a Enterprise value to resource...
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