Commendable prescience on the part of BHP execs back then. I over-egg my loss in ARI. It really isn't significant, but any loss is aggravating. I took my eye off the ball when it came to ARI.
What I can't understand is fundie Allan Gray buying up 13.45% of the company for around $395 million, at an average price of around 39c. (Please correct if I'm wrong.) AG are known for buying unloved companies and ARI certainly falls into this category. The death of AG CEO Simon Marais from cancer at 50 last week is of significance. Did he authorise the purchase? If so, sadly he's not going to be around to face the music.
Does AG know something the rest of us don't or have they made the mother of all mistakes, like UBS did in underwriting the recent cap raising?
Shorter be buried nicely, page-53
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