Harbinger in its own right has some $1.2 billion odd worth of...

Harbinger in its own right has some $1.2 billion odd worth of FMG--equating to around 15% -- it bouught this position over a 12 plus month period by just continually buying in the market, it has now continued to buy NIA and has some 9% at a cost of around $22m and a value of $27m.

I hope they go to 15% before the EGM, which will be voting on giving AF his option position, then Andrew get all his options converts to dilute them back to around 8-9% and they buy again up to 15%

I estimate this will cost them around $50m

PS at one stage they had bought a real $350m into FMG, by only buying, but sold around $150m to leave their cash exposure to around $200m having a value today of some $1.2 billion

Keep watching

cheers