RIO - Rio Tinto

[Ang]

Got to agree with that Ken ................ I'm just a bit suspicious about this "takeover" being "the real deal", especially when it happens right at the May-June time of year which is historically known as a precurser to a market drop ............. Any one else considered the insto's might be ramping this up to offload a lot of stock at inflated prices prior to the "down season"? ............. Maybe I'm just being skeptical ...................... both RIO and BHP were traded like spec stocks today ................ Interesting stuff.

You are right on the money look at the announcement after market, down she goes tommorow, I just hope it doesn't affect the rest of the market. Hopefully the small cap mining co start moving a little more.
kind reg
ang

 

[Garpal Gumnut]

Got to agree with that Ken ................ I'm just a bit suspicious about this "takeover" being "the real deal", especially when it happens right at the May-June time of year which is historically known as a precurser to a market drop ............. Any one else considered the insto's might be ramping this up to offload a lot of stock at inflated prices prior to the "down season"? ............. Maybe I'm just being skeptical ...................... both RIO and BHP were traded like spec stocks today ................ Interesting stuff.

Then again if this were a 0.09 speckie and it had gone up from .088 to .095 , pushing through a reasonable consolidation recently, every man and his dog would be tipping an advance.

The dogs of war are loose.

A heap of cash, future fund, qantas, millionaire factory is out there chasing these stocks.

It may retrace tomorrow to the top of the range, $88 , interesting to see how the volume goes tomorrow. chart encl.

Garpal

 

[Ken]

It is not a speccy.

It has been a consistant performer. Rio will most likely break $100 at some point.

Some big money is being put into RIO, so it is impossible to manipulate the same way a 10 cent share would be.

If Rio falls by 5% tomorrow, I have no doubt ZFX and OXR will be punished as well.

It's only a price tag though. BHP, and RIO are expecting to head north. Its just creating some hype because it has happened so fast.

 

[Freeballinginawetsuit]

It is not a speccy.

It has been a consistant performer. Rio will most likely break $100 at some point.

Some big money is being put into RIO, so it is impossible to manipulate the same way a 10 cent share would be.

If Rio falls by 5% tomorrow, I have no doubt ZFX and OXR will be punished as well.

It's only a price tag though. BHP, and RIO are expecting to head north. Its just creating some hype because it has happened so fast.

Not sure where youre coming from Ken.

Constant performer............RIO,BHP and for that matter Oxiana> not really!. All in the midst of a commodity boom, they've had basically squat SP appreciation for a year.

Investment wise I would agree they have presented opportunities to accumalate a safe entry. From a forward perspective the arguement for a fundamental entry has always stacked up. A relatively sound place to park a substantial holding ......... punting on at some point in time the wheel turning full circle.

IMO if you weren't prepared to go long with a decent holding in the 'index weighters', you may as well not have maintained any long termers in the minnows as well .

Thiers every chance BHP/RIO will leg up further, odds on for much of the new super money (exiting property) parking up in these guys near term

 

[telstrareg]

Would todays FTSE be an indication of what's going to happen on the ASX tommorrow? Remember RIO and BHP are traded there as well. Up 1% on the open which is around 5pm our time, and now down below yesterdays previous close...

 

[quarky]

Well, on ABC Lateline, investors in London are speculating more equity partners to make a bid for Rio Tinto.
But the interviewee said that BHP does have the money to buy it and maintain it.

Amazed at RIO's shares soaring to almost $100 in a day!?

 

[bigdog]

http://www.theaustralian.news.com.au/story/0,20867,21704827-31037,00.html

Rio, BHP soar on takeover talk
By Mandi Zonneveldt and wires
May 10, 2007

Rio Tinto shares soar 21% in London trade BHP Billiton is touted as a buyer of Rio Tinto BHP shares jump 5.4 per cent in London trade SHARES in Rio Tinto (rio.ASX:Quote,News) soared 21 per cent in London trading overnight as traders cited market talk that rival miner BHP Billiton (bhp.ASX:Quote,News) was close to tabling a bid for the company.

"Markets are betting that an offer is due soon," one trader said.

BHP Billiton (bhp.ASX:Quote,News) was up 5.4 per cent.

A spokesman for Rio Tinto said the share price move was based on speculation and said the company had not received a bid and was not aware of any offer from BHP Billiton.

 

[Garpal Gumnut]

http://www.theaustralian.news.com.au/story/0,20867,21704827-31037,00.html

Rio, BHP soar on takeover talk
By Mandi Zonneveldt and wires
May 10, 2007

Rio Tinto shares soar 21% in London trade BHP Billiton is touted as a buyer of Rio Tinto BHP shares jump 5.4 per cent in London trade SHARES in Rio Tinto (rio.ASX:Quote,News) soared 21 per cent in London trading overnight as traders cited market talk that rival miner BHP Billiton (bhp.ASX:Quote,News) was close to tabling a bid for the company.

"Markets are betting that an offer is due soon," one trader said.

BHP Billiton (bhp.ASX:Quote,News) was up 5.4 per cent.

A spokesman for Rio Tinto said the share price move was based on speculation and said the company had not received a bid and was not aware of any offer from BHP Billiton.

I believe o'nite rise in US and Uk was 11-12% rise for RIO.
It will be interesting to see how far it goes today.
Still no offer.
How long does one stay on a bolter like this.
Fibonnaci not much use when greed staring one in the face.
$144 sounds like a reasonable target, as reasonable as anyone else, and its a fib number.

Garpal

 

[swhmale]

"A spokesman for Rio Tinto said the share price move was based on speculation and said the company had not received a bid and was not aware of any offer from BHP Billiton.[/QUOTE]"

will BHP pass up the opportunity to become the unrivalled dominant miner in the world?

will ASIC let BHP take RIO over?

interesting times ahead.

 

[wavepicker]

"A spokesman for Rio Tinto said the share price move was based on speculation and said the company had not received a bid and was not aware of any offer from BHP Billiton.

"

will BHP pass up the opportunity to become the unrivalled dominant miner in the world?

will ASIC let BHP take RIO over?

interesting times ahead.[/QUOTE]


Looks like it may open up a little weaker today

 

[bigdog]

Two big RIO trades this morning at $95.50

Time---- Price ---Volume -Value --------Condition Codes
08:47:19 95.5000 100,000 $9,550,000.00 OSXT
08:17:08 95.5000 40,000 $3,820,000.00 SPXT

BHP early trades
Time---- Price ---Volume -Value --------Condition Codes
08:59:19 32.1710 200,000 $6,434,200.00 LTXT
08:58:20 31.5906 200,000 $6,318,120.00 LTXT
07:55:35 32.2738 20,000 $645,476.00 LTXT
07:17:32 32.1836 40,000 $1,287,344.00 LTXT

 

[Gundini]

You would think that RIO gave a response to an ASX speeding ticket at 4.10pm yesterday, that the share should have pulled back in London. But it went up 11%. Considering it went up only 6% in the finish here, it stands to reason that the big boys think there is still something in the wind.

I would expect a positive open based on this.

 

[Garpal Gumnut]

You would think that RIO gave a response to an ASX speeding ticket at 4.10pm yesterday, that the share should have pulled back in London. But it went up 11%. Considering it went up only 6% in the finish here, it stands to reason that the big boys think there is still something in the wind.

I would expect a positive open based on this.

agree gundini, unlike the speckies for a share like RIO to advance as it has requires considerable "inside guessing" by market makers. opening soon. lets see what happens

Garpal

 

[bigdog]

Up 24 cents this morning

Code Last Move % Move Buyers Sellers --Open --High ---Low Volume ----Value -----------Last Traded
BHP $32.17 +$0.24 +0.75 $32.15 $32.17 $32.31 $32.36 $32.05 2,171,434 69,924,898 10-May 10:07:16

 

[Gundini]

Well, a different Rio today after the usual morning flurry.

Volitility has gone, wont be as much fun to trade as yesterday it seems.

$3 speculative premium built in, for the moment.

Maybe the rumour mungers slept in this morning...

 

[Kauri]

Almost tempted to pyramid in on RIO into a possible W5 but will wait a while and see if all the dust has settled..My stop is still set at $80.50 sometimes discipline in sticking to your plan can cost..in the short term anyway..

 

[reece55]

Hi Kauri, good to see you back posting regularly again.

Same view from here, on any other day technically you would have a stab I would have thought.... But with the market so volatile, it does make you have a think......

I have opened a small long position today, enough to make some dough but not big enough for me to get too nervous.... Looks to be recovering nicely as we speak..

Cheers
Reece

 

[Kauri]

I wonder if RIO is starting off another push.... will watch to see if there is a pyramid opportunity coming up.. at least I can move my stop up to just above $89 (W4 low??)..

 

[Sean K]

Just in from DJ Newswires:

MELBOURNE (Dow Jones)--Australia's Energy Resources of Australia Ltd. (ERA.AU) has suffered a blow to its ambitions to develop the Jabiluka uranium deposit with traditional owners of the land Wednesday restating their opposition to a mine.

The Mirarr people are upset that ERA's parent company Rio Tinto Ltd. (RTP) earlier this week indicated it was hopeful they would soon approve mining at Jabiluka.

Rio Tinto energy boss Preston Chiaro told analysts the company hoped the traditional owners would "say yes" in the near term.

The Gundjeihmi Aboriginal Corporation, which is representing the Mirarr people, said the traditional owners were extremely distressed by Rio's interpretation on their relationship with ERA.

"Such comments are injurious to that relationship and immediately throw the prospect of future engagement into jeopardy," the GAC said in a statement.

The GAC said the Mirarr have not changed their views on mining at Jabiluka.

"To date the Mirarr concerns and opposition to that development remain completely unchanged," it said.

Read: Not enough money has been offered to appease the Sacred Beer Gods.

 

[Kauri]

Have pyramided on my original position, ideally would have liked to see the Wb high taken out first, so wouldn't be surprised to see a late sell-off again today if it fails to break it..