It would be cheaper for shougang to buy ADY pre-split then sell of the assets they don't want.
In real terms if they purchased ADY at say 75c which would get them a controlling stake today imo, flick of the Rincon project for say 50c per share (worth AU$125 at pe of 10), they could own the IO project for about $300 mil. what a bargain!
A takeover is a very real possibility, and if I had the resources thats exactly what I would do.
It would be cheaper for shougang to buy ADY pre-split then sell...
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