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
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.
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.
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.
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.
""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.
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.
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.
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