RE:RE:RE:SP WTFEight Capital has been buying a lot of shares these past weeks. Usually, a underwriter will short a company before a raise if they have no skin in the game. Also, the bought deal price is quite decent, and allows them to wait out Rio from a position of strenght.
I feel like the new CEO is simply bringing in more Bay Street money as a way to put some pressure on RIO (who will have to buy shares to keep their anti-dilution clause). Perhaps it's not all negative here, especially with Gold/Copper prices going up.