In today’s briefing:
- Jinchuan International (2362 HK): Thoughts On A Rumoured Offer
- Toshiba – The 3D Dilemma
Jinchuan International (2362 HK): Thoughts On A Rumoured Offer
- Shares have declined ~9% since copper/cobalt miner Jinchuan Group International Resources (2362 HK) said it was unaware Jinchuan Group, its largest shareholder, was proposing a privatisation plan.
- As the world moves towards alternative energy sources, copper will remain in high demand. Jinchuan is also China’s third-largest cobalt refiner, whose output is used in lithium-ion batteries.
- Jinchuan is not expensive. And taking the company private is not a significant outlay for Jinchuan Group. Especially ahead of the copper/cobalt Musonoi project coming online next year.
Toshiba – The 3D Dilemma
- After a brief respite in their never-ending drama over the holiday period Toshiba is again in the news as 3D reiterates their demands for a “review of all options”.
- We have lost count of the number of reviews which haven’t resulted in a PE sale.
- The question is exactly why 3D appears to be so aggressive even relative to other less than bashful activists.
Before it’s here, it’s on Smartkarma
