I wouldnt rely on T20 list when it comes to take-over predator's...

I wouldnt rely on T20 list when it comes to take-over predator's position. Their holdings will be spread out over 10, 20 different accounts and will only consolidate just before they make their move to strike.

There is no point to put out a take-over offer if you don't hold 20+% position because there is likely to be higher bid from 4th and 5th party and they need that 20% to fend off those 4th and 5th bidder.

And they would be silly to wait to after the BFS to start building their position because sp would be mulitples of what it is now.

Hawsons project in 2-3 years time will be ONE OF THE ONLY FEW SIGNIFICANT MAGNETITE CONCENTRATE PRODUCING MINES in the world to supply into the fast rising demand DRI/EAF feedstock market. And it certainly catches up the attention of medium-big iron ore producers and steelmakers. They won't let Hawsons be their competitor. They will take over it. That's how I see it stragetically playing out.