Takeover makes a lot of sense for MAC imo and they could do it in scrip given the price differentials of the two companies.. this would cure some of their balance sheet with AMI sitting on ~$100m cash with no debt.
MAC have 20mt of resource at CSA. And are feeding roughly 1mtpa of 4% Cu ore through the mill (which supposedly has capacity >1.5mtpa).
AMI have 26mt of resource of which 16mt is the copper/gold material at Peak North.. about 10mt of this is Great Cobar (~2% Cu, ~0.7g/t Au).
There’s certainly opportunity to share infrastructure, share workforce and combine resources and exploration tenements. MAC with their massive ~A$1.7bn MCAP could offer AMI 30cps in scrip and they would still own 80% of the combined entity. AMI will be doing similar production to MAC once Federation is at full throttle (albeit in CuEq not Cu).. so MAC get to double their production, unlock a heap of synergies between the operations and only dilute themselves down by 20%. Seems like a no brainer.
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