I believe thae takeover comment much the same as this from zulu only 10 days ago....zulu88 - 03 Jul 2014 - 11:50 - 549 of 663 - 0Back to Metminco ... which by my reckoning will run out of cash in about 12-14 weeks time* - a few months earlier than originally anticipated.* based on cash outflow of $4.8m in H2 2013 and with legal costs added.imho, MNC will have to do a heavily discounted placing (0.5p ?) in the next few weeks in order to continue in business.TDK going into administration, with the administrator looking to sell 17 million MNC shares (and a further 12 million MNC shares due to three loan note holders of TDK which may also come onto the market in due course) couldn't have come at a worse time for Metminco to try and get the placing away at a decent price.
Takeover bid for MNC coming very soon ... ;-)
5p, 6p-7p, 10p-15p, 18p so far ...
any other MNC shareholders want to say what they would accept per MNC share for an agreed takeover of Metminco now?
Pretty strong finish. Lets see what happens in Australia overnight. Hoping there is some truth to the Southern copper talk.
I would imagine it will likely be approx another 6 months before greatest likelihood of takeover, because didn't the access to the los calatos data room info (about a year ago) contain an 18 month clause preventing takeover by the people viewing it?
Unless somebody else is interested, copper price rise of late might be raising the profile of our monster resource and attraction of it (being well within the lowest cost quartile of world producers).
Zulu, I'm not sure what price I would be happy with, but think fair value at this time is circa 6-7p based on recent copper transactions and things I ahve read, so somewhere around there. But I'd take 5p tomorrow :-) .
BtB: MNC have been talking with SCC and others for some time about JV. I think we'll find that SCC have decided that rather than have 50%-75% of LC, they'd prefer 100% of LC and will mount takeover bid for MNC shortly which MNC management are not yet aware of (hence RNS)...
TCMC - we're on the same wavelength :-)
Southern Copper had sales of $5.9 billion last year and distributed dividends of Â£574 million
Sales $ 5.9 billion
Dividends $ 574 millions distributed
EBITDA $ 2.9 billion
Operating Cash Cost :(including by- products) $ 1.00
Takeover bid for Metminco from Southern Copper?
We'll know soon... ;-)
Considering the asset, if indeed an opportunist bid did come in, I would expect a potential bidding war. Along the lines of what happened with COVE (different commodity type but worth while analogy). The recent takeover by FQM of Lumina Copper of 2.1 cents a pound per ounce, sets a price for LC.
Now would be the time for someone to make a move, whilst the copper price is still low, interest in resource stocks is at a bottom and the share price and market caps of resource stocks are at exceedingly depressed levels.
Looks like stake building in Metminco on ASX prior to possible takeover bid for the company ...
If it stays anywhere near this M Cap surely a takeover target!
I think reading between the lines MNC management know the current MNC price is too high which is why they are trying to guide the market to being a bit more 'negative' so then if they announce a takeover offer of 0.6p or 0.7p it won't look so bad from a say 0.3p or 0.4p base price
Teck is a possibility, as are a host of other companies, ranging from Mitsubishi to large Korean or Chinese companies.
I guess both Hudbay and First Quantum have now set the scene, their competitors have a never ending search to replace reserves. In a world where grades are declining and costs rising.
With takeovers in a market sector, feel free to correct me, but prices tend to go up with each consecutive takeover.
Good shout Count, Lumina is another peer as listed in the Augusta takeover proposal doc.