iron ore up 8.96% to $115.42, page-10

I suppose a higher iron ore price has a few potential effects.

If consortium were only truly opportunistic then it could
1 - put consortium on it's heals and delays next move.
2 - may create a period where nothing happens.
3 - has potential to drive opportunistic bidder away forever.
4 - force consortium to hibernate until a sustained IO price drop occurs

If consortium are truly stategic purchasers then it could

5 - put consortium on it's heals and delays next move.
6 - may create a period where nothing happens.
7 - draw out a higher bid from consortium to strike a deal.

I think 1 and 2 ( same as 4 and 5) will happen regardless. Then depending on the IO price and forecasts and the consortium's strategy either 3, 4 or 7 could develop.

Anyone's guess at the moment.

IMHO the consortium are probably well researched and strategic so 7 is distinct possibility. No doubt the consortium will be masquerading as a bit disinterested now and invoking the thought of 3 and 4 in shareholders minds. This might explain some of today's selling.

GLTA

FT