GIR
I have mentioned this before: your brain needs a colonoscopy if you have not bought any GIR since I started harping on it. Why? Your brain has no grey matter; only brown matter. That is how bluntly I would put it to my readers who had not bought any GIR. Why waste your time reading my notes? Go and read or watch something less financially beneficial... like sports!
Today GIR is taken over by Atlas. Atlas will in future be taken over by a bigger company. Iron ore is expected to continue trading well. India is restricting its export. China's iron ore is low quality. The share price of GIR leapt by >30% with the announcement. The board has recommended that shareholders take up the offer.
I have 2 parcels of GIR, one is up 5.5x and the other 6.5x. I am intending to take up Atlas shares as it is a promising Fe ore company. LRF owns a lot of Atlas and the share price of both have been on an upward trend.
posted by Club Mulgoa @ 9:03 PM
2 Comments:
Was a bit disappointed to see this. Happy of course for the big jump on top of very strong performance already but don't want to lose the great management team you have spoken many times. Hope they stay with Atlas. What do you think will happen with them?
Only one of the directors is joining AGO. The good news is these GIR people will resurface in another new company. Buy it when it appears!
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