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Hi Litigant IGO is years away from having a plant in Kwinana....

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Flippa01

3,068 Posts.

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16/04/23

18:52

Post #: 67300099
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Originally posted by Litigant ↑

Hi Flippa01
Very interesting.
My view is that the more IGO invests in projects such as the nickel refinery plant in Kwinana, the less incentive there is to launch a takeover bid for PAN. Where are the synergies
Whilst PAN has came out with a base case after tax NPV value of $693 million , this valuation was based on the mining plan as of September 2022. It does not reflect the resources discovered at Savannah above the 900 fault. Or results of recent drilling below the 900 fault.
My concern has been that IGO would come out with a bid before PAN was able to quantify the additional value at Savannah. I doubt we will see the mine plan updated before the company reviews its reserves and resources for its year end accounts.

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Hi Litigant

IGO is years away from having a plant in Kwinana. They have only just purchased land then they have to work out a deal with Wyloo , carry out a BFS/FID, FEED and then detailed design, get Gov and EPA approvals, order long lead items, tender out works, construct then commission. All this is a minimum of 5yrs things going smoothly. Building a refinery is not as simple as a concentrator.

PAN Price at posting: 14.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

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