You'd think they would target the "distressed" companies first .. and that appears to be the case. BRM is far from distressed and if the Chinese/Japanese/Koreans or Indians want it then they will have to pay a premium .. $3 is where it starts to get interesting.
I agree that the motives for the Japanese are less about needing the ore now (becuase they don't) and more about securing a resource distinct from the Chinese. Japan will not want to buy ore from the Chinese .. either directly or indirectly. That alone may be sufficient motive.
We need to be careful not to ignore the facts amongst the frenzy.. and that is that the world is likely heading into a depression and the next 3 to 4 years are likely to be dark ones on the commodities front.
BRM Price at posting:
$1.10 Sentiment: Buy Disclosure: Held
