That's what the rumors are, and the implications could hardly be more Bullish for the PMs, especially the potential takeover targets.
JPM so desperate on Silver, it needs Copper as a bargaining chip with the Chinese?
That's certainly what the appearance is.
Re Banro: Affects BAA, not only because the DRC is so rich in copper, BAA's vast landholdings may well include some (although not apparent yet) but because of the situation within the country of Freeport and other major world copper producers.
Banro and its impeccable Old Africa Pro connections arguably have the best relationship with the DRC government of any company operating within the country.
And remember, not only was there a key African mining conference in London last week, there is the biggest one of the year coming up the first week in February. Banro will likely be lionized at that one.
Banro does not necessarily want a full parent. But it might welcome a semi-parent taking a non-controlling stake, injecting the cash to speed up its various projects and pay for a lot more drilling.
I have long thought BAA would be a perfect fit for Freeport and that they have made an egregious mistake not bidding for some of it while Gold was lower.
Now, BAA is on the radar of every major mining company in the entire world, including the Latins, the Chinese, the Koreans, the Kazakhs, the Israelis, the Europeans . . . Plus, of course, Gold Fields, Lundin, DRD, Anglogold, and African Barrick.
Many of these tend to get their initial stakes through surrogates, remember, but the savvy Canadian and South African analysts know exactly who these surrogates are. If they get a small whiff in a filing that one of the above is after Banro, all I can say is LOOK OUT ABOVE!