RE: A very long road4 Mar 2025 15:40
MAJWandCo.
Yes I understand why Glencore need to be bought out. And it seems they have accepted 4.pence a share. You would think that they would participate in the placing in order to keep their stake, but no. Deep down this is a greenfield site and not what Glen does.
When I worked for Xstrata the office next door had loads of maps on Zenaga all over the walls. Executives used to come and go into that office. They used to fly back and forth to Africa. Its a big resource. As you know Glen inherited this and never wanted it. I think I know why. These things in the middle of nowhere require billions. They do not want to spend billions. And besides these are long term ventures. 10-15 years of more. Xstrata did spend a lot on it. Mick knows the business more than most, and he will have the contacts. Lots of patience will be need. These things are costly to get up and running but when they are, they earn lots of money. Good luck