You would have to be game to go short now. IMO being out is a risk too. A takeover could happen any day now.
A few days ago Albanese spoke to his shareholders. He played down Fukushima and talked up RIO's uranium mining - saying: "Rio should be ready for growth".
Both CGNPC and RIO know the longer they wait the more they will pay for KAH & EXT. That's because the uranium industry is recovering from Fukushima and EXT might find more uranium from their drilling.
Also, its only 5 weeks before CGNPC is eligible to make its discount takeover offer for KAH (and EXT). But RIO wants Husab now more than ever. That's because Rossing is almost depleted and we all know power mad Bob Brown intends to shut down Ranger (which is almost depleted anyway).
So I think we can expect the sp to keep going up as the sellers dry up and the rumors and leaks start to happen.
EXT Price at posting:
$7.96 Sentiment: Hold Disclosure: Held
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