The Board should be closely watching share register now to see what those hedge funds are doing. Any move on CMR would have to be pre-empted with buyout of the 20+ % in their hands and maybe HNC's 5% residual parcel as well.
If there is to be a serious bid, u would think they would wait for optimum broader market nervousness and strike it above GT's 5 buck strike so they could get Board endorsement. I am assuming WORSE case scenario and hoping for best (GORM rule # 3).
CMR has ability to bounce strongly off its current lows if market nervousness subsides espesh if the shorts are now covering, so any predatory move would have to be smart and swift.
Reckon the RJMF would fit an Xstrata's corporate strategy and add to their global LEAD strength. If they didnt want the Uranium it could be parcelled off to a keen neighbour ERA.
IMO this is now a SERIOUS possibility all considered and being beached on a sand bar atm.
CMR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
