MasterFeeds: Eurasian Natural Resources (ENRC-LSE): DRC Assets Acquired, Including Kolwezi; Potential Negative to Sentiment - BMO Comment

Subscribe in a reader Add to Google Reader or Homepage

Aug 23, 2010

Eurasian Natural Resources (ENRC-LSE): DRC Assets Acquired, Including Kolwezi; Potential Negative to Sentiment - BMO Comment

Eurasian Natural Resources (ENRC-LSE): DRC Assets Acquired, Including Kolwezi; Potential Negative to Sentiment – Negative
Rating:   Market Perform
Price:     £8.66
Target:   £10.50
Description: cid:image007.gif@01CB42A0.411A3BF0
The acquisition of DRC copper-cobalt assets from companies associated with the Gertler Family including the exploration licence for First Quantum's Kolwezi project (currently in international arbitration) is expected to generate negative market sentiment. Further, it may open up potential future legal issues with respect to the ownership of Kolwezi, plus suffer potential ill-will from the community of global mining companies in future. ENRC has announced the acquisition of a 50.5% interest in DRC-focused Camrose Resources. The stake was purchased from Silvertide Global, Zanette and Cerida Global, all held by the Gertler Family Trust. Total consideration is US$175M, comprising US$50M in cash and US$125M in promissory notes payable in 9-24 months.



No comments:

Post a Comment

___________________________________
Commented on The MasterFeeds

ShareThis


The MasterFeeds

MasterSearch

Categories

MasterFeeds News Finance china money stocks USA Commodities United States debt Gold Venezuela Dollars bonds Markets economics trading Banks FED Hedge funds Asia LatAm Oil default credit metals Mining international relations central_banks CapitalMarkets HFT russia zerohedge Euro Israel Silver democracy India Japan SEC bailout Africa Liberalism Middle East elections insider trading Agriculture Europe FX Iran Tech Trade VC bitcoin copper corruption Brazil CoronaVirus ForEx Gold Silver NYSE WeWork chavez food real estate Arabs EU Facebook France IPO Maduro SWF TARP UN canada goldman government recession revolution war Abu Dhabi Cannabis Capitalism Citigroup Democrats EIA Jobs NASDAQ PDVSA Palestinians Saudi Arabia Softbank Stats Trump Turkey Ukraine demographics ponzi socialism 13F AIG Berkshire Hathaway CBO Cargill Colombia Cryptocurrency ETF Ecuador Emerging Markets Eton Park Google Hamas Hezbollah Housing IMF LME Lebanon Mindich Mongolia NYC OPEC PIIGS Pakistan Paulson Pensions Peru Potash QE Scams Singapore Spain Syria UK Yuan blockchain companies crash cybersecurity data freedom humor islam kleptocracy nuclear propaganda social networks startups terrorism Advertising Airlines Andorra Angola Anti-Israel Apple Automobiles BAC BHP Blackstone COMEX Caracas Coal Communism Crypto DRC DSK Double-Dip EOS Egypt FT Fannie Mae Form Foxconn Freddie GM Gbagbo History ICO Iraq Italy Ivanhoe Ivory Coast JPM Juan Guaido Lava Jato Libya London M+A MasterEnergy Mc Donald's Miami Mugabe Norway Norwegian Odebrecht Oyo PA PPT Palantir Panama Politics QE2 Republicans Rio Ron Paul ShengNu Soleimani South Africa Tokens Tunisia UN Watch UNESCO UNHRC Uber VW Wyclef anti-semitism apparel bang dae-ho cash censorship chile clothing coffee cotton derivatives emplyment foreclosures frontrunning haiti infrastructure labor levi's mortgages philosophy shipping social media treasury women