thats a bit misleading as they are only purchasing the last 15%. Considering they bought the first 85% for $3.85 they are probably happy to pay $21.50 for the last 15%.
still its putting a high valuation on a company producing only 8mtpa.
Plenty of rumours in the media of consoilidation such as Mount Gibson having a crack at someone to boost reserves.
Fresh takeover activity and upcoming iron ore negotiations will hopefully revive the iron ore sector and put some solid valuations in place.
thats a bit misleading as they are only purchasing the last 15%....
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