Hi All
Can anyone comment on the fact that only "the majority" of our cathode is Grade A. Is this an issue with the circuit?
Trafigura's decision appears inexplicable. True, they've made a bucket-load of cash on the investment but this company is about to start throwing up heaps of cash and, so we all believe, the equity price is about to run on the back of some pretty substantial cash flows. If they wanted to be anything more than just a trader then this vehicle seemed like the ideal opportunity to do it. It appears that they don't as the other alternative, that this is not the ideal vehicle, cannot be right, can it?
Also, I wonder what happens to their off-take if they no longer hold a stake.
Previous rumour about Minmetals is interesting. It would not suprise if we got taken out. Barrick would also be logical. That said, it would suck if we got taken out too early and cheaply. A good old-fashioned bidding war would help though. What price would everyone need before they were happy to sell out?
Cheers
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