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A takeover of Anglo American Plc would need to be pitched at more than £30 per share, a higher price than BHP Group Ltd. offered last week, according to analysts and traders surveyed byAnglo American shares are trading 8.8% above the value of BHP’s rebuffed takeover proposal, a sign traders are also
Of the 12 survey participants who gave an acceptable price for a possible deal, the average value was £30.43 per share, with a range in responses between £28 and £35. BHP’s initial proposal, which has several moving parts, was at about £24.
A bid price above £31 would reflect fuller value, particularly if a cash component is introduced to compensate for uncertainties related to the spin-offs, Fitzpatrick wrote in a research note published Monday. There is no certainty that any offer will ultimately be made. BHP has until May 22 to announce a firm intention to make an offer.Barrick is in talks to raise at least $2 billion for the first phase of its Reko Diq copper project in Pakistan.Licence has not been revoked, which means there’s still a chance for the Llurimagua project to become Ecuador’s next big copper mine.The Paradox lithium project, owned by the Anson Resources' unit A1 Lithium, has a production capacity of about 10,000 tpa.
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