Rueters - yesterday RIO CEO stated they are looking at smaller buyouts/purchases to "smooth their port folio". SVM were one of two mentioned in the article along with possible copper and lithium - no companies mentioned but a hot market environment stated.
It is obvious for all observers in that this is how Middelmas prefers and operates very successfully - resource discovery - sell it onwards. This is a very superior asset to many others - really tip of iceburg to what is on combined tenements. Whilst it would be preferred for shareholder to proceed to development and reap huge cashflows - SP growth as other rutile miners enjoy and graphite miners soon to enjoy it is looking highly likely RIO will take the lot - at what premium price time will tell and when? I would anticipate sooner than later for RIO to buy in at lower premium before the SP rolls - of course share holder approvals needed.
Quite disappointing this RIO stake has gone largely un noticed by markets - anticipate SP climbing in lead up to PFS timeline in 6-8 weeks and there after. GLTAH - certainly in a prime position now.
SVM Price at posting:
51.0¢ Sentiment: Buy Disclosure: Held
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