It seems common for deals to be struck between mining junior and major, or banker and miner, in Kalgoorlie pubs during Diggers and Dealers, and for gossip, share tips and takeover speculation to be passed between inebriated delegates over a beer.
Well, here are a few tidbits from this year and a few we would like to see next year.
• Goldfields executive vice-president John Munro didn’t even wait to get to the pub to disclose that Harmony Gold’s hostile and eventually unsuccessful takeover bid was referred to within the target as the “drive-by shooting”.
• Victoria’s Perseverance Corporation may be moving steadily towards production at Fosterville, but managing director Graeme Sloan concedes he has some work to do on his cycling after he was passed on his debut outing by a female jogger pushing a pram.
• Fortescue Metals Group chief executive Andrew Forrest should be congratulated for his articulate presentation first thing on Wednesday morning.
• Next year, Jubilee Mines executive chairman Kerry Harmanis praises analysts for ascribing value to the nickel miner not on net present value but based on trust and faith. Jubilee doubles its market capitalisation and Mr Harmanis has to change the name of its latest prospect from Tapinos (Greek for humility) to Ecstasy.
• The WA Government opens up for uranium mining but only if it is conducted by Kerry Harmanis.
• Newmont takes over Newcrest and AngloGold in order to own Boddington outright, only to find Newmont president Pierre Lassonde has overshot his bullish gold price prediction. The gold deposit more famous for not being mined, becomes uneconomic.
• A former Federal Court judge opens up a soft drink stall by the side of a Pilbara iron ore rail track able to be accessed by more than one producer, and does a roaring trade.
