Ithink a joint venture of some sort.Wits mentioned joint ventures in their last results and the ceo of pan mentioned 3 aquisitions that they were busy with.The management of pan are good and like the ceo said, they dont jusy buy anything ,just for the sake of buying...anyway i think it will be a positive.
Well, it would be a good thing if someone was donating around R1.5bn to the cause, and not asking for the shirt off their backs in return. Otherwise, where will PAN get the money? This changes the entire profile of PAN completely, if it goes ahead, IMO. PAN is a cash positive, value stock, a low risk gold miner (if these things can actually be considered low risk). Now they are entering into the high risk - cash hungry - future reward scenario.
Probably out on a limb but I was expecting nearer R3 billion. If I'm right, they got it cheap.................assume WITS can pay their half, don't know enough about them. (my failing) I don't think PAN will need a rights offer so I'm happyish. Must admit I expected a share price knock down today on buyers remorse...........you never can tell.
Hotstoxx - well what can one say about those views( on Pan or...)? The saving grace is that this is not a group of "newwies" with cup outstretched and some kind of a harebrained plan. These fellows have SOME kind of a track record - and especially when it comes to getting things done - albeit in in different though related field. Do you want to be part of a small group which is just a cash cow - or do you want to venture abroad. Buy Spur if the former.