Latest on NAK by Peter Grandich:
NDM was the very first stock on my Tracking List when the blog began back in late 2008. While the gains have been quite nice since then, the company itself took a quantum leap in size in my biased opinion based on the news last night. If not for today’s overall market weakness, I fully believed it could have held its earlier gains and then some. This has given those not yet a believer to consider the following:
With Ivanhoe’s Oyu Tolgoi effectively no longer a prime takeover target thanks to it’s most recent deal with Rio Tinto, NDM is truly by far the largest undeveloped copper-gold acquisition available to a major or majors. I say available because NDM’s CEO has more than once stated the likelihood of NDM being put up for sale and/or being a takeover target. He suggested in his opinion that shouldn’t be too long after the updated data report came out (It did last night).
Any interested party was basically flying in the dark before the release last evening but now has some real hard date to work with. How on earth can a major producer not want to consider NDM given the likelihood that’s it’s mine life should outlive all of us and maybe even our grandchildren? And how can they let one of their many competitors end up with it?
With two of the biggest institutional and industry shows in the world taking place the next two weeks, I fully expect NDM to be having lots of meetings, presentations, etc.
A research report issued today by TD Newcrest not only increased their target price from $26 to $44, but also noted in their analogy that using an approach that took into account several copper transactions in the last two years, they came up with a takeover price for NDM of $128.03. That’s not a misprint (and I won’t hold the three cents against them-lol).
Yes, there’s still significant risks including environmental issues, metals prices and over equity markets but given what we now know data wise and the dramatic increases in metal prices, I could argue NDM is cheaper today then it was when I first added it to my Tracking List at $3.36.
Game on!
Sorry if someone already posted this, as I have not yet had a chance to read today's posts.
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