China National Gold Group Corp. is in talks with Robert Friedland’s Ivanhoe (IVN) Mines Ltd. about buying a stake in a Democratic Republic of Congo copper project, people with knowledge of the matter said.
China’s largest gold producer may seek to acquire about 15 percent of Ivanhoe’s Kamoa project, said two of the people, who asked not to be identified as the talks are private. Ivanhoe is also considering selling a stake in itself, one person said. The Kamoa mine had a net present value of about $2.5 billion after taxes as of November, according to Ivanhoe’s website.
Can someone give a good guess on why this goes from 4.36 to 3.30 in a week on no real news and after many articles on an agreement reached and rio buying it all for 8.00 and the volume cranks up ? Who is selling all these shares and why? Why can't they all get along and do this deal, they will all receive great wealth from this endeavor or are they that greedy and stupid that they are going to fk this up and the stockholders of trq are left swinging in the wind.
possible RIO is not buying more for now. we ll know more on 3/31.also copper price keeps falling. know that in china to get a loan from bank it is common to put copper or ore as collateral. lots of bks recently in china so perhaps seized those collaterals and are selling them. there s an article on that on RIOs yahoo finance ticker news. nevertheless some are selling ( large holders) who bout at $2.5 secondary offering, correct ?