Looks like the Chinese are bruising Twiggy with bundles of cash ATM.. wonder if this is rubbing off on BRM.
From Bloomberg
Fortescue Shares Advance After Report It’s in Talks With Anglo
By Jesse Riseborough
Feb. 18 (Bloomberg) -- Fortescue Metals Group Ltd., Australia’s third-largest iron ore exporter, rose the most in a week after the Herald Sun reported Anglo American Plc and China Investment Corp. are in talks to buy a stake in the company.
Fortescue advanced 4.1 percent to A$2.77 at 10:44 a.m. Sydney time on the Australian stock exchange, the highest since Feb. 13, compared with a 2.4 percent decline in the benchmark, making Fortescue the fourth-best performer on the index.
The stock has jumped 43 percent this year and has a market value of A$7.7 billion ($4.9 billion).
Calls to Perth-based Fortescue spokesman Paul Downie weren’t immediately returned. Anglo American spokesman James Wyatt-Tilby didn’t immediately return an e-mail outside of business hours seeking comment.
BRM Price at posting:
$1.12 Sentiment: Buy Disclosure: Held