Anyone that wanted to make an offer probably decided it wasn't worth it after the run up in the price. |
I think in time they will probably make an offer (for Western Areas). I can't see them taking a passive stake in the company like that. |
It was a solid result. |
It was not much of a surprise. |
The industry's profit margins have widened considerably despite the strength of the rand against the dollar. The benefits of restructuring and consolidation are now coming through. I just hope the industry doesn't let costs slip again. |
You can't expect ARM to have control over the whole business. It's a good deal for ARM. The assets have cash flow and energy is quite topical at the moment. |