Have to agree that I feel this is a positive move. At the AGM MC really did not answer questions about where he was going to get the $200m for the Simberi sulphides. As a bigger company with the SBM takeover they should be able to raise this sought of money. In my view this capital raising capacity was impossible to ALD. Also ALD are suffering from not having real mining expertise (politicians, accountants and soil movers). SBM are real miners and will no doubt make good use of the miner/explorers at lower levels in ALD. Note that they are only taking 1 director from ALD onto their board (the other is a consultant). It also brings control back into Australia and we get votes without converting our shares to the FSE. Hopefully SBM will do something about the overstaffing at Simberi (600 people!) and also get some real experts on the ground both there and GR to get the lower cost production promised.
ALD Price at posting:
$2.32 Sentiment: LT Buy Disclosure: Held
