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TYC, TETHYAN COPPER COMPANY LIMITED
Optionsman
post Posted: Mar 8 2006, 10:21 PM
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yes Atacama is a subsidiary of Antofagasta

cant wait for the next bid ...

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dealer
post Posted: Mar 8 2006, 09:25 PM
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In reply to: Optionsman on Wednesday 08/03/06 12:08am

Your right optionsman, definitely Monterreys are UBS's.

Understand what you say abount Mincor but I think it's safe to say they would tend to side with Antofagasta if they match the Crosby/ Skafell bid.

I note a late announcement by Ellsions acting for a PTY by the name of Atacama Copper. Is this Antofagasta using a Chilean geographic region for the name of their holding company, or is it a 3rd player?. I also noted BHP's Escondida mine is situated in this area and wonder if they are coming to the party, though not sure why considering the claw back.

I'm sure we will find out soon enough

I will wait until the dust settles before I look to accept anything. Even though my calculations below were very rough, it gives tremendous scope for price movement of the shares


 
Optionsman
post Posted: Mar 8 2006, 12:08 AM
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In reply to: dealer on Monday 06/03/06 06:57pm

Not sure your numbers are quite right dealer - Anto does not have Mincors shares as yet - they are still subjected to higher offers. And I think Monterrey's shares include those that UBS bought.

Regardless, things are only just starting to hot up

What will Anto's next bid be? $1.40? $1.50? $1.60?

 
dealer
post Posted: Mar 6 2006, 06:57 PM
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I got in sub $1.00, so very happy

How I see it is:
Antofagasta has 37.5% tied up with holdings of Barrick, Mincor and themselves
Skafell probably has 20%, if as I expect the UBS and Monterrey holdings are aligned with them

That leaves Empire investments and Yale Uni with 10% and another 32.5% up for grabs.

When the EGM docs came in I did some loose calculations based on Tethyans unencumbered metal in ground. Assuming 70 cents US profit per pound of copper and $100 US per oz for gold, that gave an in ground asset value of $48 per share

If one assigns a 10% value on that number (which seems to be rule of thumb) at bankable feasibility stage (completion), then you could assume a value of $4.80 AUD in 4 years

Question is, what is that worth to them now?

Good luck

 
Optionsman
post Posted: Mar 6 2006, 02:01 PM
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In reply to: Chief Wigam on Sunday 19/02/06 01:21pm

You were right Chief, Skafell didnt go away. Now the question is, which one is going to be the eventual winner? Skafell or Antofagasta? And how high will it get bid to before one of them has enough?


 
Optionsman
post Posted: Mar 6 2006, 01:32 PM
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In reply to: Optionsman on Wednesday 22/02/06 11:43pm

New bid by Skafell - $1.35. Oooooooooooooooooohhhhhhhhhhhh baby...

Where will the bidding end? $1.50? $2? $3?

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Optionsman
post Posted: Feb 22 2006, 11:43 PM
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In reply to: s4rx7 on Wednesday 22/02/06 02:22pm

things are about to get VERY interesting. Should be a good day tomorrow ...


 
s4rx7
post Posted: Feb 22 2006, 02:22 PM
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UBS acting for a party, has picked up 6% looks like we have our counter bidder.
See ann just out



--------------------
Get Rich or Die Trying
 
Optionsman
post Posted: Feb 20 2006, 11:23 PM
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In reply to: Chief Wigam on Sunday 19/02/06 01:21pm

The more I think about it, the more it smells to me like a 3rd party may be inolved. 28 million shares have been traded in the last 4 trading days, thats over 20% of TYC's total market cap. That could potentially be one BIG stake by one party....

Either way the signs are good for a higher bid to reveal itself in due course ...

biggrin.gif

 
Chief Wigam
post Posted: Feb 19 2006, 01:21 PM
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In reply to: Optionsman on Sunday 19/02/06 11:43am

Skafell will no doubt raise their offer. They have stubbornly continued to extend their previous offers month after month for what the last 7 or 8 months. They have spent a lot of money and time on this takeover and now have egg on their face. They are not going to go away quietly imo.

 
 


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