Ed, based on what I have read, Shougang's investments in MGX and PSP cant exceed 20% under the FIRB rules because these companies own aus mining assets. However, if ADY divests from its Lithium and aus assets and becomes exclusively a single mine in Chille, the FIRB cannot or would not prevent a complete takeover by a foreigner.
Shougang already owns a substantial iron ore mine just up the coast from ADY's mine. See here: http://www.shp.com.pe/
If Shougang would buy ADY at the current market cap they would get another productive mine with over 200m ton of magnetite iron ore for less than $1 per ton!
cheers....
Ed, based on what I have read, Shougang's investments in MGX and...
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Mkt cap ! $14.66M | |||
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