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I think BHP are in for a nasty surprise... miners are not going cheap. They are going for a premium.
Just ask Rio Tinto. Their failed purchase of Turquoise Hill says it all. Nothing is going cheap these days for obvious reasons.
https://www.reuters.com/markets/deals/turquoise-hill-committee-rejects-rio-tintos-27-bln-offer-2022-08-15/
Looking at the Oz share price, it's been over $25 for large chunks of the last year. At the start of the year it was over $28. To claim that $25 is full and fair seems ridiculous to me, it's just pure opportunism when the SP has dipped due to short term copper weakness.
It's not like some company that has got itself into trouble, loaded up with debt with a declining business and seen its share price decline by 75% over several years, in which case a 30% premium to current price probably seems like a blessing to put shareholders out of their misery. BHP's offer is less than what you would have paid for OZ shares just a few months ago, while at the same time their own in house economists are trumpeting great future demand for copper over the medium to long term.
If they offered the same for Solg right now, offer at 29p or similar, I'm sure virtually every Solg shareholder would say F off.
Agreed Bozi, my point exactly from last week, Its coming home
Nothing has changed NoviceHunter.
The problem comes when people start polarising everything.
The reality is that someone can be allowed to have concerns whilst still rooting for a positive outcome. Just as someone can love the story without being a shareholder.
There are times when it's not a case or "X doesn't hold because they're not uber positive".
Good to see the SP buoyant this morning under fairly decent volumes. Let's hope it continues as that gices the company options where raising funds is concerned.
Thanks dbw.
Can’t argue with that …. It’s poor
Despite what many think of me some call me a troll etc etc - if you want to see what a real troll looks like have a look at the plank on the poly board..
55p soon would be nicer for starters Lolzzz
A close today of around 24p would be nice ;-)
Funny how a week ago majority of the board appeared suicidal with figures of 15p, 19p, etc etc being touted ???
Life's better when you read this for what it is, basically "The Sun" of share BB lolzzz.
And some posters think they're important or listened to !!!
ONWARDS AND UPWARDS!!!
Absolutely Monte. I'm glad you picked up on that.
Anyone would have thought that current shareholders (of Oz Minerals) won't have a say...
Typical BHP arrogance.
Might break 24p this afternoon and head towards 25p
rcgl2, it was an assumption I made the other day, but might not be right.
Re Red's article
Lovely typo in heading BHP won't pursue OZ 'at any cost'
BHP CEO Mike Henry has again expressed disappointment at OZ Minerals’ response to its A$8.4 billion per share takeover proposal.
Reading all this news about how much BHP will or won't pay for Oz is interesting, you would think that they decide the price, not the market.
Maybe just getting a bit ahead of themselves?
What does the rest if the industry have to say about it?
Damers, 50p to kick off bidding with Cascabel but yes 100p more realistic...with the numbers BHP are reporting today its got to be a no brainer if they really want it.
Another 5 % will do please :)
Just watching the tumbleweed blow past...
Meanwhile...
https://www.mining-journal.com/m-amp-a/news/1437819/bhp-wont-pursue-oz-at-any-cost
Doge also flying again today, Happy holidays !!! Just like buses
Rumours flying around the city that this is going to pop. BHP are walking away from Oz and perhaps now is the time they will make a play for SOLG. Watch this move very quickly when news drops.
Up over 5% already, people and insto's finally joining the dots, or know the time is close.
50p - I take it that's for Porvenir or another regional Horse?
£1 Cascabel
£1.50 the lot (however we would reluctantly accept £1.32)
BHP could take SOLG out for lose change if they really wanted the resource really badly, by that I mean at least 50p..
SP drifting up nicely - could we see the dizzy heights of 24p today?
BHP's underlying full -year profit up 26% to £17.69bn.