· Following recent news on cooperation possibility between Jinchuan Group and Antam, the group said it is ready to deploy up to US$2.00bn for nickel facility development in Halmahera and currently is studying feasibilities on this project.
· As a return, Jinchuan Group will absorb the facility’s output considering that this third world largest mining company requires nickel as the raw material for its stainless steel product.
· There are no further details on this plan; however, the facility in Halmahera will open access to Antam’s nickel reserves and is inline with the company’s plan.
· Currently ANTM is trading at 2011F PER of 10.4x and EV/EBITDA of 5.1x, Buy.
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Minggu, 26 September 2010
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