Don't you love it? - "confidential agreements" and anonymous analysts and "takeover rumors" were causing "traders to resurface" yesterday.
This "secret information" - that LGL might be a takeover target - has now been revealed to us by Mr Journalist...
He works for the most credible newspaper in Australia - THE AGE...
What I am seeing is a company that has been oversold and shorted to death returning to a more realistic price.
Mr Journalist is spreading rumors on behalf of someone and they should create a good outcome for traders and shareholders who are long LGL...
Some "anonymous traders" must be ready to "go long" now and the anonymous analysts are getting in on the action. Someone must have covered their shorts in the past week....
Pity for the rest of the LGL bears and shorters...
from the article;
Analysts at Credit Suisse said the 'long-speculated acquisition of Lihir by Newcrest' seemed to be getting ''some airtime' lately.
Lihir shares closed 9 higher yesterday at $3.06, with part of the rise attributed by traders to the resurfacing of the takeover talk.
http://www.theage.com.au/business/lihir-shares-up-on-talk-of-takeover-20100316-qco2.html
surprise, page-8
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