Here's an idea that I'm hearing more often. Forget RIO & BHP & China. FMG are now in a position to borrow money on very favourable terms as witnessed recently. FMG has always suffered from the knockers & would love to do something out of the box that would make the main stream investment community sit up & take notice. It recently said it's going to build a rail line to a deposit that just happens to adjoin IOH. Take over IOH, instantly increase known reserves by 600mt without spending a minute looking for them. Kerry Stokes sells so as to concentrate on Channel 7, Caterpillar, West Aust Newspapers. We all win by accepting either cash or FMG script. Twiggy wins by now undisputedly having the largest iron ore resource in the country & by sticking it to the 'establishment' that could no longer ignore him. Currently IOH is soo undervalued, as stated earlier on this thread BHP paid in excess of $1.20 per mt, discount that 50% & IOH is still valued at 100% above today's price.
IOH Price at posting:
$1.54 Sentiment: ST Buy Disclosure: Held
