Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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My Buy,...48,000 HUM shares, at s/p@21.19p,..time 08:15:49.... ;0).
BW
No thanks, to a bid of s/p@28p to 30p,...s/p@28p, that's only about a couple of pence, above my present HUM Gross average s/p level,.....still building a position here myself,....got 60% of my HUM target shareholding so far, not building it to see it given away for chump change,....that early doors 48,000 recorded sell (s/p@21.19p) yesterday, was a buy.
BW
It does make sense, just look at the Ganfeng buy in to Bacanora recently. T
he interesting thing is, Chinese companies don't seem to care about share price in commodities, rather focussing on long term export deals, so you may see one paying what looks over the odds for a large piece of HUM. Not sure about 60p, I would say 28-32p range is more realistic at this time. Of course the BoD would have to go so I am sure they would try to whip up a shareholder frenzy to resist though their best course of action would be to work to raise the share price quickly as at these levels HUM is a sitting duck.
What's the going rate for inferred gold on an M&A basis, $200 an ounce?
Please not the Chinese. I like Chinese people but not the government and their hidden agendas.
Look at how theyre wiping out the Uighur Muslims in Xin Jiang, their reneging on promises made regarding Hong Kong and their secrecy over CoVid outbreak.
Not to be trusted and UK plc should now be very wary of selling them anything at any price, imho.
Please God, somebody buy us out and save us all this agony.
March 4 (Reuters) - Chinese gold mining companies are on a buying spree in West Africa and South America, outbidding rivals for assets in less familiar regions as the governments in their usual hunting grounds turn against them.
China’s overseas mining M&A activity fell overall in 2020, Refinitiv data shows, but the number of acquisitions in the gold sector tripled from 2019 even though a surge in the gold market to record levels inflated premiums.
Bankers and lawyers predicted the focus would continue on the emerging economies that welcome Chinese investment as Australia, Canada, and the United States increase scrutiny of Chinese acquisitions.
Gold-rich regions in West Africa and South America have a particular draw for Chinese companies faced with dwindling resources at home and they are not limiting themselves to gold as they seek to become diversified global companies.
“We’ve seen China mining deal activity double over the past 12 months,” said Hilary Lau, partner and head of Asia energy at Herbert Smith Freehills in Hong Kong.
“Interest is now more evenly split between traditional targets such as gold and iron ore, and new economy metals such as lithium, cobalt and graphite.”
A Johannesburg-based banker, who declined to be named, said Chinese buyers were for the first time aggressively pursuing gold deals in Africa.
State-owned Shandong Gold Mining last year won a nine-month bidding war for Ghana gold mine developer Cardinal Resources, outbidding Russia’s Nordgold with a A$1.075 per share all-cash takeover offer – 134% more than Nordgold had initially offered for the company.
By contrast, its bid for Canada’s TMAC Resources, which mined gold in the sensitive Arctic region, was rebuffed by the Canadian government on national security grounds in December.
Shandong Gold Mining did not respond to a request for comment.
Chifeng Jilong Gold Mining has also ventured into Ghana, sealing a deal to buy Resolute’s Bibiani gold mine in December.
In a statement to Reuters, Chifeng Jilong Gold Mining said investment in developed countries, such as Australia and Canada, is “not active” because assets there are 10% to 30% more expensive than those in West Africa and South America, and mining companies in the less developed regions can do deals more quickly.
State financing is one of China’s advantages in carrying out overseas acquisitions, Chifeng Gold said, adding that it believes the Bibiani mine was bought at a “fully competitive price”.
‘THEY KEEP BIDDING’
China has also stepped up its activity in South America, where Zijin Mining acquired Guyana Goldfields and Colombia-focused Continental Gold in the space of five months last year.
Zijin outbid Silvercorp by 35% to clinch the purchase of Guyana Goldfields, and paid a 29% premium for Continental.
Zijin did not respond to a request for comment for this article.