Ann: Ceasing to be a substantial holder from MS, page-51

Let’s plot MS dates for stock over million borrow with GXY share price movements, abd analyse their gains/ losses and my read is
1. either They are greedy
2.or They are desperate
3. Perhaps they are greedy and desperate

If I was running the fund, strategy driven by emotions is not a good one; hence it’s not going to last long..

Now a rational buyer will take into account the POSCO valuation as it sets the ballpark bar at the minimum regardless of where we go from here..

POSCO valuation + CAsh - 1$ per shar
Mt Catlin plant only - 50cents/ share
Remaining SDV (based on POSCO) - at least 50 cents/ share

So essentially we are paying $1 for $ 100 million + EBIT , Ridiculously low PE and free James Bay

Enjoy your weekend. Stay rational summer is not too far away