I'm not sure why copper. They said they're interested in advanced copper project in Australia. May be Hanlong and their bankers push MOL into that direction.
If outside Australia, may be BML. BML needs cash (for management) not for drillings. BCL (Botswana govern owns BCL company not list on ASX) will spend money on drillings and feasibility study, BML been free-carry of 30% of project. BML still waiting for license been delayed.
I mean with $3-5m you can probably buy BML (been free-carry so probably no CAPEX or money for drilling required) and some grades over 20-60% copper.
I'm not sure about gas. May be Hanlong and their bankers are not interested.
Just IMHO.
MOL Price at posting:
13.0¢ Sentiment: None Disclosure: Held
