Rio making a big takeover for the Oz junior with big African prospect may be waking some people up that Rio may also be sniffing at MLX re Wingellina. Its cheaper and easier to let the juniors do the hard yards and burn up the time and cash, many to no avail. When a desirable biggie is turned up which is way too big for the junior, the juniors shareholders may get a bonanza with takeover offer from a major, but looking at all the risks and difficulty of finding a major deposit especially of this processing quality its still a very cheap and efficient way to go for the big fish. Rio is definately sniffing around Wingellina, we know that, with the farm-in.
My guess is that they are looking for a parallel deposit they can use to lever the Chinese interest out. You know the usual all promise no delivery crowd from up north.
MLX Price at posting:
31.5¢ Sentiment: None Disclosure: Held
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