mentioned as a t/o target, page-9

AGO will be a forminable opponent and existing shareholders will not sell out so easily. The probability of a takeover success is low. Of course, existing shareholders would welcome an attempt - could only boast the share price.

Currently, all the mid tier producers are depressed because of the general market conditions and some specific organisational issues.

Personally, MGX is more vulnerable -given significant stakes by various Chinese parties. If they do gang up and pull a stunt like with BRM - the level of resistance is practically non existence. The amount of free floating shares are comparatively small. Not only that given the ongoing issues with their board - MGX is more a fair game. It makes no sense For the Chinese parties to see their $$ investment languishing and the apparent lack of impetus to sort the board issues are really thought provoking. As with SBM attempts at Catalpa - it was opportunistic pricing.

Aside, I have read broker reports which mention the beneficiaries for the fallout from the latest Sinosteel Saga - FMG, AGO, MGX.

Disc (on and off long position only in AGO)