xstratas intentions in the bushveld, page-6

What really GOT TO ME in investigating Xstrata's attitude to this JV was

* the positivity in THEIR statements to the media/market

* virtually every senior level of Xstrata management that matters have made these comments towards the JV,something one rarely see's in such a potential JV with a spec.

* the apparent seriousness that they have towards this JV that is backed by their involvement with the BFS.

Indeed there appears to be a driving force that implies a larger producer WILL have involvement with this project given the motivation to increase the resource size down dip to the west at Garatouw,something that one would not necessarily expect from a spec if they wernt quite sure of which way the JV was going to go.I cant see the market being overly happy to continue with fund backing for such resource increases(at depth/which implies more capex) unless THEY thought there was serious intent from Xstrata.

The other implication from fact was the afformentioned smelter/refinery study instigated by Xstrata.

* These Xstrata comments have been made from day one since they ann the HOA for the JV(Aug 08) right up to late 09.Indeed its hard copied into their mid 09 report.Almost astonishing given that no JV has been signed up to.

But then in listening to Mick Davis(in his Xstrata mid 09 webcast) he is not one to beat around the bush(veld):-) given Xstrata's management intentions when it comes to expansion.If they cant get Anglo to merge then they will chase quality projects that have become available via the BEE process(at Anglo's expense).They arnt affraid to go greenfields.

Its easy to see how one could think such comments as "no-brainer" do not impress the knowledgable investing community,in fact such a comment doesnt overly impress me as imo NO project should be considered a "no-brainer",espc one that will require such a JV with a large capex input.
And as quite a few posters have mentioned one should get worried when one starts seeing high reading counts and popularistic comments on a stock,but then this is why I have investigated the Xstrata end of the potential JV.

d.