RE: RAMBO83/Cripes26 Feb 2022 19:58
ZIOC's major shareholders' net investment cost is negligible - they were substantially repaid by the Directors' share sale at time of IPO.
GLEN's net investment cost is negligible, its stake was picked up as an afterthought/incidental byproduct of the merger-cum-takeover of Xstrata. Zanaga's value (if any) to GLEN probably lies in any marketing/offtake arrangement it could negotiate post-sale, which it would probably not want to share with ZIOC. It's not a charity, after all.
If there IS a buyer out there, it would be tidiest (for just about everybody - Including Elphick, AT and co, who can move on to other pastures) for GLEN to buy ZIOC out with some of its Treasury shares and then 'flip' the Zanaga concession.....
AFAICS