GXY dropped in value due to both the Japanese tsunami induced market drop & the impending HK listing which at todays price would virtually dilute shares 1:1.($280 mil CR) Many GXY buyers have probably choosen to wait until the HK listing to buy-in when local sp post CR is equal to or less the discounted cr price. If there's going to be a Chinese takeover, then the opportune time is likely immediately post the cap raise before the sp recovers & when HK instos buy big parcels @ a reduced price anticipating the takeover. Moorookamick PS: Although GXY's market cap is under the FIRB radar of $300Mil, they would probably have a look because of the strategic importance of the rare earths component of GXY. Lynas takeover attempt by the Chinese was knocked back by the FIRB because of China's world dominance of rare earths. mm.
GXY Price at posting:
47.6¢ Sentiment: None Disclosure: Not Held
