RE:RE:RE:RE:RE:Merrex CEO Interviewed on BNN
I'd happily take Randgold shares as well. Actually, I'd really like to see Rand take a run at this, as they're just the smart enough to figure out how to make it work for IMG to let it go. Of course the downside is that Rand doesn't overpay for assets :( I don't think IMG will move on Merrex early even if they think they'll have to pay for more oz. It looks as if gold may have finally bottomed here, as the price has held up recently with both US$ moves up and down, and a higher gold price will make IMG shares outperform as their high production cost actually gives them MORE leverage (now that's irony!). If the price moves down, MXI will be worth less & IMG will have some real problems, and their MXI JV will be an inexpensive asset which they can flip to another co. for cash. In short, I think IMG keeps as much of their cash for as long as they can before they have to make a decision.