Motsa, I ask that as a question because the UMC purchase by any competitor will attract Stamp Duty to WA Govt coffers.
Mining tenements are deemed "land" under the land rich provisions of the stamp duty act.
BHP would want to get it into the correct vehicle as stamp duty is (sliding scale of course) 5.5% of market value of buy-out. ie at $1.50 t/o, UMC worth $240m which means stamp duty is $13million. If BHP then try and get into JV coy, then may attract stamp duty again.
UMC Price at posting:
91.0¢ Sentiment: Hold Disclosure: Held
