sick and tired of journos with no understanding at all of a stock nor the company's fundamentals.
At the price offered, it would be the steal of the century and certainly be no bell weather of the top of the cycle, imo.
The NPV of this stock with an iron ore price of 1/3rd the current spot price is around $2bn.
I will leave you to do the maths at $180/t and as a tip it is A LOT higher than triple!
Over to you WR, the Chinese are coming and the company is starting to look impotent in the face of this onslaught!
32% now with WNH. A 15% issue would dilute them back to 28%. Big bang now required - rail, cornerstone investor, spp, institutional placement.
It is time to fightback!
I think management are up to the task, but they need to act soon.
from bloomberg, page-2
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