RE: Strategic investor?AJ: Also neglected to mention that GMO shares are up 17% this am after that Mittal $70m investment so the premium does emerge. Nice way to buy-first buy around market price then 17% discount hours after the deal done.
You neglected to mention that GMO has about 60 million shares out standing. Which means there is alot less supply to deal with an increase in demand. We also no nothing about their managment although the SP would indicate they are more credible than HM. Also, moly is a different commodity so I'm not sure a comparison is apt.
Having said all this Joe, you are correct any major investment by a larger company would give the share price a big boost. That's not anything anyone here is disputing. The debate would seem to be whether HM is capable of getting a deal done. I'm not sure his attitude is going over very well with potential partners.