RE: question ??Don't think the Friday sale of Rio Tinto shares and warrants to Amerigo is negative for CHD. Rio Tinto was always a seller of Marcona. They only bought the IPO in order to complete the original deal. Without them CHD might not have even closed the deal. This trade completes the sale save what CHD owes them based on a resource calculation. I would describe the Rio Tinto holding as overhang which is now in the hands of a longer term owner. The Rio Tinto holding would have been a big negative for a number of institutions looking to buy in but were concerned about a dumping of the RT position. So one more negative is behind us.
If we could get a positive scoping study CHD should rock. Still think
we go higher next week though based on the Amerigo buy as we begin a new countdown to the end of April.
Coyote13