RE:Above Rio Initial InvestJc, you nail it. That's the game, but I still don't blame management, they can't force major to takeover, that's why i cut some WRN position to other equity half year ago, I just blame myself, why did I invest in junior mine? It is a complex game. November? Rio throw you a bone of another 5%-8% share dilution, year by year dilution (at least Marketcap increase but share price keep stable)and finally takeover by some 50% premium before shovel ready.
Best strategy is : use the WRN(junior mine) as a bank deposit, it is a safe deposit because of no debt. Than try to find other invest chance, then switch postion to other opportunities, after get return, then back to WRN for deposit, don't fully invest and wait, it is a way to waste your life and money.
One more time, I don't blame Paul now, they play game but can't control game, major is real player.