JBM shares traded for the weeks ending: (check figures)
26/10/07: 7.8 million shares 02/11/07: 25 million shares 09/11/07: 8.2 million shares 16/11/07: 9 million shares 23/11/07: 3.5 mil shares (as @ 21st) Total: 53.5 million shares
I received a call from Xstrata tonight asking me to accept the offer and reading off a spiel as to the fact I had virtually no other option as no higher bid would be received --- said with great authority --- etc, etc.
It made me think --- obviously Xstrata (I think) have not been buying on market -- otherwise their substantial shareholder notice would be increasing --- and maybe they are starting to worry
I had given up somewhat on a higher bid as the shares trade closer to the $23 --- but I wonder now --- Who have those 53.5 million shares? --- Obviously some or a lot may be the same shares re-circulating --- But?
Feel free to check my figures on weekly volumes.
JBM Price at posting:
0.0¢ Sentiment: None Disclosure: Held