Trust me - BHP or RIO and the aussie gov etc wont ever give give up the fourth largest Iron Ore Project this country has to a chinese/hong kong company, or if indeed it is Sinosteel doing the indirect route thru WaNam.
NEVER
This is peanuts for BHP thats all cashed up and looking
I honestly see BHP taking them over with a counter offer
Sad that the takeover offers have been made so early on in the project development phase as the company is REALLY worth a heck of a lot more than say $10 youd get from BHP
Run the figures and in full production at 17mill a year the share price would be trading multiples higher
Even 10bucks from a BHP is CHEAP......and they KNOW IT
Massive projects like these usually always get taken over b4 they hit proddy
theyre just too good and the big boys get opportunistic.
Look at UMC for example. What did BHP take em over for?? PEANUTS compaed to what they couldve been even with CAP RAISINGS and debt.
We'll never see production on this stock - We gonna be taken over
I reckon BHP
The chinese aint get it, not such a large project for oz.
BRM Price at posting:
$5.92 Sentiment: LT Buy Disclosure: Held