CAPITAL MARKETS

The MPI case

RUMOURS abound but the MPI Mines mystery remains unsolved with the company expected to make an an...

Michael Quinn
The MPI case

MPI remained tight-lipped this morning, with one analyst telling MiningNews.net that the complete lack of knowledge by the market as to what MPI is set to announce was testament to “the quality of the company”

The rumours include an asset swap with LionOre Mining International – whereby MPI gets LionOre’s Thunderbox operation for giving up its Honeymoon Well nickel project and Silver Swan nickel operation – the sale of its nickel assets (to LionOre), and the acquisition of its partner’s (the US-based OM Group) 20% stake in MPI’s nickel business.

LionOre is cashed-up to the tune of around US$200 million and is expanding its nickel business. MiningNews.net was unable to reach the company’s Australian managing director Mark Ashley, who was reported to be in transit.

However the fact that LionOre has not called a trading halt suggests it isn’t involved, though with its primary listing being in the Canada, there is a possibility that the deals mooted are not considered material enough to warrant the action taken by MPI on the ASX.

Dismissed by analysts as likely reasons for the trading halt are development decisions or exploration discoveries.

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A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

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