| | | ... mo context fwiw
Ex-Xstrata CEO Davis might take over III
- |
Report abuse
fundtrader
May 25, 2015 05:04 pm
III might be taken out by EX-Xstrata ceo with his 5.6 billion $ war chest. "In the meantime, X2 is looking at Canadian companies with copper, coal or nickel mines and is pursuing assets with a value of $500 million to $2.5 billion, said the people. Davis may conclude a deal within six months, the people said. Hudbay Minerals Inc., Capstone Mining Corp. and Imperial Metals Corp. are among companies that X2 is studying as takeover candidates, according to the people. All three stocks advance in Toronto trading, Hudbay climbing 0.7 percent, Capstone 4.7 percent and Imperial Metals 0.9 percent." Imperial metals wont be around. With its current market cap, I think its a sure bet. less then 75 million shares are outstanding making it one of the cheapest takeovers out there. Hudbay is too expensive and capstone production costs are over 2 $.. III is going to have production costs of around $1.00 a pound of copper produced. With billions of pounds of copper this looks like it wont be around within 6 months. |
|
