re: Ann: Acquisition of OZ Minerals Nymagee T... Jiantan the whole market is down. Even the best of the best announcements from YTC won't do much to put the breaks on, unless of course they find a gazillion truckloads of phosphate or graphite which seems to defy stock market gravity these days. (Yes I know we are not looking for that stuff)
Copper is still rated as a demand item, and is expected to be in demand for sometime. When I contacted Rimas recently he was pretty upbeat about the project, and yes frustrated at lengthy nsw govt delays in approvals, however...not much he can do.
I am under the impression that funding is getting closer by the minute and I would not be surprised to see Glencore involved to an extent. (guessing) I think they only need around 60 - 70 million to get going, and then again, if I was looking for funding I would go via an offtake agreement. Maybe glencore have been assisting in partnering to some extent. So depending on who they are in talks with perhaps the offtake partner may take some of the slack in funding.
Worst case scenario 300 million shares @ 30 cents a share (for $90 mil) if they go that way during the current sell off of the market...but no....I am kidding! NO CEO WOULD DO THAT!
So chill out all and have the faith.
amok
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