One thing at a time.
First they have to wrap up the corporate entity prior to shipping it out. Which means packaging as much of the good stuff as they can and getting rid of the rubbish.
Then they have to ship the "container" to London to list it on the LSE.
If the "package" survives the journey, then the gentlemen may think about dressing it up for NASDAQ. Everything in good time. Shareholders have got to be shaken out first.
Meanwhile, the priority is to get their ass out of here ASAP with as much booty as possible --- in their own hands. They don't want passengers riding on their back.
The first company to "emigrate" was De Beers, then the Rembrandt cigarette subsidiary Richemont. Then Gencor which became Billiton. Then, flagship Anglo and with it AngloGold. Anglo still holds ALL its platinum interests --- close to its bosom. Goldfields also wants to get into the act. Then the big life insurers Sanlam and Old Mutual will follow. Soon, SA Breweries. Within a short space of time every large SAfrican corporate entity will have its primary listing (and headquarters) in London and, in all probability, will be swallowed up and hidden in some other multinational corporate package.
AngloAmerican recently forced AngloGold to buy Minorco's bits and pieces of gold mines at TOP prices which put AU into the red. Reason, as I see it, Oppenheimer has a big piece of Minorco and likes cash right now. So AU shareholders foot the bill. Other Anglo-controlled companies like Amcoal and AngloIndustrials (AMIC) are being completely taken over by Anglo at a song. Shareholders are being ripped to pieces.
It's my view that the gentlemen are not trying to enhance the image of their wares right now, for the reasons given above. Ultimately, they will try to sell SAf golds at US prices ie +/- $50 an oz of gold reserves, in the ground, or whatever. (And this will include the dogs which they have shipped out with them). But that will only happen when they have most of the stock in their pockets. Another thing I believe they are trying to do is to establish a gold Central Selling Organization, like Ernest Oppenheimer did with diamonds. In other words, a gold mining cartel. So, the last thing they want is the POG to go up, prematurely.
These guys are experts at making hay "when it rains"!! |
