If I was cashed up at the moment and looking for acquisitions I'd be looking straight at Sino and not Lihir.
Its the second biggest mine in China with great balance sheets and increasing outputs and good expansion.
Buffets advice holds true, buy great well managed companies at low prices.
These big corrections in the market only happen once in every 20 years or so, maybe less, but if you were going to M&A you'd do it now before GOLD takes off unless someone is waiting for the aus dollar to drop more.
Do people agree?
If I was cashed up at the moment and looking for acquisitions...
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