Yep, it would be an opportunistic offer - most T/O's are. AS received his shares for free, so @ 80c, that's a $20m payday & $13m for Roly but yes I very much doubt they would sell at that level.
Alcoa could easily get their hands on GEM's 36m options @ 80c & the remaining 9m oppies which would make then the largest shareholder with 45m shares. There's probably 30m-40m in nominee accounts as well - so they could very easily end up with 100m shares and then buy 80m on market and BOOM, they've got 51% - all imo and very do-able. Obviously hope not as we all know what fair value for FYI is.
FYI Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
