If my memory is correct, some source said the IRR to buy now and hold through the production phase assuming everything will be resolved in time is about 22% per year. AnGang needs to fullfil its agenda on controlling enough iron ore deposits overseas. Pure speculation that 000629 is from the same Province where you see HanLong (remember who wants to buy SDL a while ago?) 22% annual return on a 40 years deposit, must look good on government year end work report. Given all these speculations, if the FIRB has no objection, it is of mutual benefit for a TO.
GBG Price at posting:
5.8¢ Sentiment: None Disclosure: Not Held