RE:RE:Fireside chatClark
The Crux monkey in white suite is at least worth the 1st 30 seconds. Here's my summary:
> Paul gives summary of Casino for 8,264th time
> Monkey asks about Rio DD and relationship with MMC
> Paul explains Rio/MMC status, rights, seems like both parties are happy with results, dotting i's crossing t's, etc
> Paul expects something to replace current agreement with RIo that expires Nov
> Monkey asks about competitive tension for 522nd time
> Paul thinks bringing in MMC increases likelihood Casino becomes a Rio asset --- but bringing in MMC likely causes some delay (months not years) since another party invovled.
> Paul happy that we have Nov deadline becomes it forces decision.
> Monkey asks next step
> Paul thinks next thing that makes sense is for Rio to make a bid for the entire company...but many options exist with different structures. Believes JV not best option ---- but never say never.
> Monkey asks about MMC --- who would get what and if potential if they don't work out win /win with Rio then would they make a bid.
> Paul thinks Rio will try to do a win /win but can never say MMC wouldn't make counter bid
> Monkey asks about valuation
> Paul says this is hs job and why he does conferences like this. Ok all you double digit forecasters ---- you should listen 12:30 on ....get yourselves grounded to a much lower value!!!!!
> Monkey asks about 30% as typical premium....
> Paul gives 55% premium example for Rio /TRQ
> Monkey says wasn't that in hotter copper market
>