It'll be interesting to see how this turns out, what's behind the rumour.
I maintain that it is not logical that abz would back out this way, they would be handing over their share of Camsell Joint Venture at a project value of around $25mil [12 point something percent in lieu of paying ~4mil].
Sure they need financing for Diavik before long. Sure they'll be looking for a divorce from wsp, but they're not stupid and they'll be wanting a more lucrative one than that, imho. They're not broke, they had 121mil at the end of 3Q98 - newswire.ca
Sounds like you've heard definitely that they're in default - well stranger things have happened, i guess ... like you say, everybody knows that they don't get along with RT/JMc ..... but I doubt they'll drop their share so cheap. It would be great if they did, the market would take it as a lack of confidence in the project and tank wsp stock short-term, making for some trading opportunities, while we'd end up with a higher percentage when the bulk sample results come in.
In a way i agree with Will P on the 'source' - sure it would make for a nice release and inspire new waves of interest, but it's not necessary to find it this year to assure the making of a mine. I'd just like to see ~10mil tonnes of dyke drilled off and open down-dip, and bulk sample results of 200US/tonne or better - that will make us a mine and any more will just make it better.
Yes, abz sure has come off after BB's BS, eh ....... cheers |
