There have been rumours that some majors are starting to take notice of the Pilbara gold rush and this got me thinking. Perhaps it’s not ARV are the ones that are at risk. Perhaps it’s Novo.
Entirely possible that QH had some major sniffing around and flat out didn’t want them to come in, for all or some. Word gets out and the Novo SP starts to run for no apparent reason (which it did). QH and ES approach DL and offer to buy the Novo shares back without prejudice (could have been a JV contractual issue but QH let it slide) so that ES can retain a blocking stake in Novo (which he now does). In return, QH gives his word to DL to ramp things up at Purdys (the positive language commenced shortly after the share sale). When the share sale is confirmed and the suitor catches wind that they’re blocked out, the dump and the SP falls (which it did immediately after the sale).
Most of the pieces fit. Of course, I could be reading way too much into this and it’s all just as plainly stupid and frustrating as it appears in reality.
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