I get where you are coming from - I agree and believe that they...

I get where you are coming from - I agree and believe that they will have a period of "consolidation" - BUT, I suspect it will be the briefest of consolidation periods.

They have repeatedly outlined their acquisition strategy and have identified the locale of their targets - distressed mines in Qld and Spain (Iberia).

They are looking to build a base and the best time to do it is about now - before the tungsten price starts to run.

And dont forget, they now have some good size muscle on the register in Oaktree and Cronimet - and perhaps even more importantly, Masan Group, a hugely diversified and commodity driven group.

Masan want product and the other two want price appreciation - working together, it WILL happen !