I believe Xstrata WILL take up the option,based on the fact that the original option was for 30 days from 30th june---which would have expired on 30th July--the two companies extended negotiations for about an extra 6 weeks(independent valuer appointed 16th September)to me ,this means they must have been close enough to a deal to still be negotiating for so long.I also believe the valuation will be in Altona's favour slightly,leaving Xstrata a choice of 1/ Paying the price or 2/ Letting someone else get the ore that they(xstrata) need-----it would be a very poor decision to walk away from the largest known supply of copper/gold ore right on their doorstep and start looking elsewhere when they already have a mill running at under capacity and not to full efficiency.IMO.So its a yes from me.
AOH Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
