ADN will find it more difficult (not impossible) to get debt funding (remember this issue of the product being non tradeable) without 100% of the cash flow. The debt will append to the project itself, but it would be cleaner if it was 100% owned. It's now obvious the two companies have REALLY started to talk. Both MEP & ADN positions have strengths & weaknesses; MEP will be partly driven by the fact they gave away a shit ton of money they never saw and have always regarded themselves as a bit "superior" due to finding Prominent Hill. IP on cement etc at the heart of this little announcement. A brave man might go long MEP & short ADN....
ADN Price at posting:
16.5¢ Sentiment: None Disclosure: Not Held
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