I think BHP have missed the boat on taking out all of RIV. They have had a look over the site last year (as per previous fin rev article) and didn't make a move.
Fact is, a major slab of RIV is held by shareholders who use the coal, so they will not be selling shares to BHP. TATA , CSN and Passport + Management would require a VERY HEFT offer to sell their shares.
RIV may offer a partnership in one of their leases (946 perhaps) to BHP, in the same mode as they did with Benga to TATA.
I'm looking $15 - $20 for my shares.
Retail holders dumped shares on the open today. I am happy to by these dips.
Cheers, Skip
RIV Price at posting:
$7.39 Sentiment: Buy Disclosure: Held
