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INVESTMENT ALERTS - Takeover Bargain: Newcrest Mining

Takeover Bargain: Newcrest Mining

Since mid-April we have been monitoring Newcrest Mining Ltd. (NCM), which has lost half of its value since then and is possibly ripe for takeover now. Newcrest has lost more value than any other major mining company due to a sharp decline in gold. However, it is still the biggest producer in Australia, boasting 40 years of gold reserves (87.3 million ounces of gold and 12.1 million tons of copper). We’re looking right now at a market value of $6.6 billion, and plans to further reduce the value of its mining assets, cut exploration costs and free up some cash (in 2014). Analysts estimate that Newcrest is worth double its value right now, so could be a bargain takeover, even if gold continues to fall. 

CNPC to Acquire Marathon’s Offshore Angola Field

China National Petroleum Corp. has agreed to acquire Marathon Oil Corp’s offshore oil and gas field in Angola for $1.52 billion. This is CNPC’s second major acquisition in Angola, a fast-emerging West African hotspot that could rival Nigeria.

Costa Rica Halts Chinese-Funded Refinery Project

A $1.3-billion Costa Rica refinery modernization project funded by the Chinese government has been halted over contractual violations because the feasibility study was conducted by a Chinese company with ties to China National Petroleum Corp. (CNPC). This is a conflict of interest which violates the contract that explicitly states that the feasibility…

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