Harry Winston Diamond Corporation HWD

Diavik Mine Sale ?

[u2bob]

Any truth to this?...and would Harry Winston Diamond Corp., sell its part?

Meanwhile at Diavik, Canada's second diamond mine, also in the N. W. T., production was down 23%. Some analysts speculate the mine may be sold as its majority owner, Rio Tinto, attempts to pay off debt


https://www.nationalpost.com/related/topics/story.html?id=1481235

[puma1]

i think it comes down to the Chinalco deal - if that gets voted down, then i think we are probably on the block at the right price.i hope the Aussie's say no to China!

[puma1]

we have traded 2.2 million shares so far at an average of $3.69 in April.anon and credi suisse are the big buyers and TD the big sellor.

[smocher]

Rio Tinto has to be crapping their pants at the prospect of sellling the diavik interest for a price relative to what HW gave up If they have any smarts and money , they should be upbidding the shares of HW here and now..like $5+ to $7.

[Ciao]

A reminder that KINROSS's purchase of HW shares values HW at $9 / share and that is for a minority interest.  An even larger premium would be justified for a larger holding.

[Aberlour]

Is it true?  Don't know.  Is it a believable speculation?  Absolutely.  BHP owns Ekati, 25 Km away from Diavik.  They have $7 billion in cash right now.  Rio Tinto has a debt problem.  It makes total sense to me for BHP to strike now when the assets are as cheap as they will ever be and take out Rio and Harry Winston.  They could achieve some economies