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12c BAH HUMBUG
a bid would have to be at 15.5c now & still wouldnt win
at 24c-29c MST NPV it may get past 51% unless BMM AF respond & counterbid.

Ive been saying for 9 months that MD is accumulating.
MD will be revealed soon looks like.

PH implied at the AGM he was getting rid of the short sighted legacy holders & bringing in fresh blood, we now know this is Padley, Morgans, MD TP CS Nomura.

To t/o they will need to get both BMM & AF to sell to them, looks like AF already has done 4% in december to february.

they will need 1.6B shares to buy to take a 51% stake, maybe have 250M already, still not enough to t/o POS. This would explain the massive capping & accumulation the last 12 months

I have outlined before, only the following can or have the reason & cash to do this-

AF,FMG BMM BHP Glencore FQM IGO Gina POSCO,LG
which one?
their brokers must be Nomura CS TP MST
BHP & AF would make sense.