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If Gina has a 70% stake in Roy Hill is the mysterious buyer not...

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ozzieKochie

128 Posts.

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22/06/18

06:21

Post #: 33872583
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Originally posted by mathowa ↑

Here is a few points which Rob Brierley, head of research at RM Capital, was quoted in this ABC news feed.
Atlas Iron backs Gina Rinehart's $390 million takeover offer

He does not believe think port access is the main driver behind the Hancock bid.

"I do recall that they did have a little bit of a hole in their production profile after a couple of years at Roy Hill" — of which Ms Rinehart's company owns a 70 per cent stake.

"So just being able to use the Atlas resources to top up their production profile is probably the major reason why they've bid for Atlas."

"I think Hancock [is] more interested in the resources," he said.

In the meantime, Mr Brierley expects Fortescue Metals will reveal its cards next week.
"I think they will look carefully at whether they will extract any sort of synergy from acquiring Atlas in their own right, or whether they just become a blocker for the deal."

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If Gina has a 70% stake in Roy Hill is the mysterious buyer not the owner of the other 30%? Pure speculation on my part.

AGO Price at posting: 4.4¢ Sentiment: Hold Disclosure: Held
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