I have held GIR since 2001 and have never seen the relentless buying that has been going on over the past month.
Someone must accumulating a big position. The shareholding of the company is wide open, so take over offer a the right price may suceed.
Alternatively, management may be selling off assets to fund development of a key resource. This would be a departure from the spin off of assets which they have done in the past (and in my opinion is not such a good strategy these days).
They only have a 25% interest in Lake Frome, so my guess is that they may sell it and use the proceeds to develop the Mid West Iron Ore assets.
My thoughts only....
GIR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
