magnitogorsk assets frozen..?, page-38

I had speculated before that MMK may be active buyers market and we may see a sub holders notice, however someone responded with a view that they were not allowed to buy shares under 30c as part of the deal, possibly detailed somewhere in the 82 page document.

Most likely still arbitrage traders who are making even more hay when the sun shines even brighter, like today with even larger spreads available in large volumes due to this announcement that had nothing to do with FMS or MMK's ability to produce the cash to buy it.

Sure it's not encouraging to see this type of trouble, but I have seen it many times with bulk commodity operations, especially those that operate with contracted longer term pricing rather than spot.

Not to say the sellers were wrong to bail today, who knows, they could be following good instincts. You risk losing upside if you sell now and you risk losing to the downside if you hold. If we knew all the answers, this would not be the real world.