RE:RE:TakeoverThe deal to acquire Kainantu from Barrick in 2016 (I believe) was in $20 million range – plus some royalties on production - all paid for now & it was likely one of the BEST acquisitions in mining ever for operating mine. Barrick is still operating few mines in PNG including Porgera, a Tier 1 mine where they had some major dispute over ‘environmental’ issues AND social conditions (I think it was all about profit sharing).
From the looks of it KNT has learned Barricks’ lesson and has established very close relationship with local land owners and has implemented stringent modern environmental operating conditions.
As for nationalizing mining in PNG; although always possible it is very unlikely since at present this country is unable to finance any development on its own & they know it. However….China is encroaching aggressively in every sector of PNG (Barrick is in joint venture with China in Porgera) so as for potential ‘new owner’ for KNT I can see China getting in on that deal.
I’m looking for $12 to $16/share if offer comes …..or should I say I'm dreaming about it.
G37