I think there is more than one party in the game here. Apart from the RM investors, who I think are probably loaded up now (but guessing), there is Vale themselves who may be acquiring, but I feel there is a third group at play and I don't know whether it would be one of the usual suspects like Gina looking for a tactical holding or someone else.
In general there is little support from local brokers for TS stocks and I would be surprised if it was one of them.
No reason it couldn't be a metals group looking for any resale excess from the DRI project in the future, or a left field Saudi investor from Tony's new stable of mates.
Until someone hits the 5% and we can decipher who the man behind the mask is, we can only guess. Pretty happy the last few days have held pretty solid with so many brokers and investors already switched off.
CLE Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
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