"I guess you need to ask yourself why they [GFA] paid a premium.[?]" nordsemic.
Simple. GFA see the premium as the LEAST they could pay to realize far greater, longer profits.
"If someone else (say Sumitomo) wanted to takeover GOR they cannot given 10% is a blocking stake."
I've never read anywhere that only a 10% stake can stop a bidding war. A corroborating link would be appreciated.
"... traders aren't going to bid up the price 27%."
Traders NEVER were, but would play the ride up if it were in their interests, eg. volume, daily range; momo traders maybe are getting ready now; however, GOR's about an investment made by investors.
"So there is little prospect of a bidding war for now[.]"
With no bidding war, with traders out, with 10% set in stone then stick a fork in it because she's done... BUT what about the frenzied shorts? Who are they acting for? Another secret bidder accumulating a 10% stake by other means than a single purchase from an insto? How about that insto, what if they sold a 5% or 10% stake to another bidder for a 35% premium?
I think GOR is in PLAY as evidenced by the active shorts and the premium expense of a SINGLE transaction bringing a 10% position.
We'll see how this plays nordsemic, Good Luck to you and all GOR longs.
OV
GOR Price at posting:
71.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)