Medium sized companies are snapping up projects at the bottom of the cycle, just look at the takeover of AMA. A copper miner with aspirations of moving into the big league and growing its production profile long term need projects like the LC project, at a time of increasing copper prices and explorers at the bottom of the cycle deals for such projects would seem like a savvy strategy.
Interesting to see what happens over the next few days and weeks...
eh, on google search, dont think its true or proper???? google metminco news last 24 hours, looks moody though?
rumoured take over copper companies
22 hours ago - Metminco (MNC) takeover rumours | ADVFN. MNC takeover rumours. Bulletin board gossip about Metminco takeover. to make a move, whilst the copper price is ...
Been in 2 takeovers of resource stocks...AAAM and AMA both had massive resources, AAAM in iron ore and AMA in gold, the latter could still receive a counter offer, imho. MNC stacks up well as another takeover candidate, imho, I guess comparing recent takeovers of copper projects and valuing mnc based on them and the in the ground resource gives one a potential valuation. A few years back LC might have gone for 200 to 400 million US.
Another reason why any good drill results "could" have a material impact on the sp. Increases the resource and thus value of mnc. If they find a comparable resource as LC I wonder if we are sitting on a 3 billion tonne copper project...not many of them being found these days:))
Hello Mike, really difficult question that. I would say something in the region of 25 to 40m gdp if a good deal gets done on LC. Thats if we dont get taken out first. I am a long termer here and sitting on a very large loss currently so what do I know. I picked up a small holding of AMA the other week, that one seemed a no brainer...I made a few posts about it looking dreadfully cheap and a very good takeover candidate, the more I thought avout it the more it made sense to me. I made a post last weekend on this subject on the ama bb, the next day they received an offer. Weirdly nobody made any coments about my posts or the fact I had called it right! I guess my reward was the financial reward of being right and not the congratulations of unknown people on a bb:))
the point I was making on ama is that companies with very large resource projwcts with good economics are cheap and ripe for approaches. Lc will cost a lot of money to develop....BUT so will ama's gold project!!
Massive re-rate on its way...time to add more GLA
Good point about Amara Monte Cristo, a JV deal struck there with perhaps a takeover by Randgold further drown the line. Lots happening at this level behind the secenes and Metminco should be lined up soon for a deal that will reward everyone in here very handsomely indeed. The sp is peanuts still and that can only mean one thing: A serious multibagging opportunity.
The latest drilling is priming this for a great deal in my view.