Well, as we probably all know Hazelwood had an option to purchase Wolfram Camp from Planet Metals but opted out and the mine was subsequently sold to Deutsche Rohstoff AG from Germany which are about to start trial production this month with regular production envisaged for early 2012. Obviously HAZ was looking at acquiring a tungsten mine that could be in production much earlier than Big Hill or Mt. Mulgine, although on a much smaller scale. So a certain interest seems to exist and the problem for HAZ has not been solved. IMO there is a very high probability that Big Hill could come online significantly later than currently communicated.
On the other side HAZ doesn't have the money to make a (cash) bid for Carbine and if I was in their shoes I would not want to piss off my shareholders by issuing equity at currently depressed prices. A cash raising certainly would depress the share price even further. Or is it the other way round, a CR in the making being the reason for the RECENT decline? One never knows!
CNQ Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
