We should be waiting for the mining concession to be granted in Benga exploration area. Vale has got the coal mining concession for 20 years in Mozambique.
In the current terrible market, people would only like to pay money for the companies with strong current cash flow, but not future's EPS. This is the difference between a bull market and a bear market.
Value investors would like to buy more, but they don't have spare cash anymore, just like me.
If TATA is keep buying, there should be a large seller in the market.
Cheers
RIV Price at posting:
$3.84 Sentiment: LT Buy Disclosure: Held