The thought of Sinosteel doing something did cross my mind also...
They're already involved with Atlas in a lithium deal.
But I also have some doubts...
Sinosteel may still be gun-shy after the great Mid West Corporation debacle of about 10 years ago. They paid about $1B for a crap company, and at the time it was the biggest dollar value takeover by a foreign company.
They paid about $6.30 per share for Mid West Corp, which ended up being a grand disaster as they stopped mining IO soon after the acquisition.
I wonder how many heads rolled at Sinosteel after that?...
AGO Price at posting:
2.9¢ Sentiment: None Disclosure: Held