fair opening price, page-11

Jimmy GBG was never going to be taken over by ANYONE except Ansteel. They held 50% of KML prior to this, and a 12% blocking stake in GBG. This means they could block any takeover as 90% ownership is required. Not to mention no Chinese Steel mill have gone at each other throats in a bidding war. They all keep clear of each other.

IMO this action confirms the project is a goer and presents significant value in the long term. I beleive Ansteel will try and T/O us years down the track, assuming the FIRB allows it.

I doubt anyone would want AGO given the current environment (despite the wild posts of a BHP t/o on AGO forum - hence the reason/s I never really posted there). Ridley is nice, however nothing has happened with it. AGO faces port and rail issues and its DSO resource is small and low grade (however its cheap to dig up), and management really burns through the cash.