Interesting thoughts about the ZFX possibility. However, I would comment that an offer for merger with CUO from anyone else is unlikely. I say that because MXX already owns around 30% (fully diluted) of CUO and they would have to support any takeover. Given the basically agreed terms, and the fact that the top 20 shareholders of MXX own around 87% of the stock from memory, it seems a foregone conclusion that the merger will proceed.
After the merger is another issue! It could be that ZFX would be interested, but I seem to recall that they wanted around 200ktpa copper production and the CUO potential in the short to medium term is only around 30ktpa. I have read that EQN is a more likely target for them.
But nevertheless, the merged entity is going to have some juicy assets and excellent growth profile in various base and precious metals. I also believe that the MXX/CUO boards will not be satisfied with the merged assets and further M & A activity will occur and I doubt that a merger with Platmin is out of the question. They will be conscious that they will be either prey or predator. Robert C de C and Keith Liddell are unlikely to be the former.
regards
DF
CUO
copperco limited
