RE:RE:Interesting development with......drd8 wrote:
"Barrick pumping in 2Billion to Zambia. They want fm copper assets. They are literally next door to each other."
Hello Mr. drd8........Well, that's what i thought as well.....at the start of all this, when Barrick first stated showing its interest in FM years ago. You make some good points & agruments, but maybe things have sinced. They are definitely "interested" & want those copper assets, that's pretty clear here. The question is do they want ALL those copper assets? Or are they looking to acquire & targetting specific mines? Maybe the negotiations between all the parties involved is evolving at a quick & rapid pace, and some "compromises" are being made on ALL sides.....Barrick included.
If there rumors of First Quantum being in discussion with Jiangxi to offload the Zambian mines have ANY truth to them, then you have to ask yourself why is that? What's really going on here? Doesnt Barrick want the whole company? Or not? Maybe they have no choice here but to compromise to get all the investors onboard with a potential offer. The only other possible explanation is this.
Maybe Barrick has already made an initial offer, as we all suspect they did already by now, it was probably a lowball offer below $20 cdn and immediately rejected by both FM mgmt/bod & Jianjxi. The result? FM is dejected & insulted, plays hardball by putting pressure on Barrick to "encourage them to make a better offer by going into negotiations with Jiangxi to divest Zambian mines. Those are the only two pausible explanation.....to explain everything that's happening.
First Quantum will get sold this year.........the only question is to WHO & WHEN. Barrick may be the front runner and the has the best chance to, but don't underestimate others as there's A LOT at stake here in this sector for North America.
GLTA