re: Ann: ANW: AusNiCo Secures a 19.99% Releva...
Hm. Not sure what to make of it.
Here is a comment on the original bid: http://www.proactiveinvestors.com.au/companies/news/35267/ausnico-to-merge-with-taronga-mines-35267.html
Sure is a good deal for AusNiCo - but I'm not so sure for us: a mere $ 7 million for the biggest undevelloped Australian tin deposit sounds awfully cheap.
AusNiCo could be quite undervalued, and they seem determined to move the project forward. But they got less than a million cash on hand http://hotcopper.com.au/announcements.asp?id=491882 - where will they get the money needed to proceed with the project ?
YTC Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
