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Showing posts from December, 2010

when the bidding war spills overseas – Riversdale mining

Earlier on  when the Rio Tinto offer was pitched ( for Riversdale mining) there were rumors of an Indian conglomerate also thinking of biding  with sketchy details of who it was really that was doing the bidding in the news  articles. Now it has emerged that  TATA steel ( Indian Company )who is already a partner ( has 24 percent stake in riversdale mining) of Riversdale mining is also  evaluating  the deal that is on offer. Now when this sort of news is in the market  Only two things can  happen 1. The price of the share ( Riversdale  Mining ) will go up  and that can benefit  Riversdale and its stake holders  2.  Riversdale stake holders  can reap a bigger price benefit due to this price surge Will Riversdale price rise further , will the Rio Tinto takeover go throughIf the Indian consortium decides to go ahead, it will have to up Rio Tinto's offer price of $16 per share for Mozambique-focused Riversdale.Now this  can  be a  good thing for  Riversdale mining and its stake holders…

commodities on the rise

Copper  - $US9355 a tonneCopper prices stormed to record levels this week, closing yesterday at $US9355 a tonne. speculation is there that a trader has accumulated up to 90 per cent of the copper on the London Metal Exchange, amid a dramatic rise in the metal's price driven by demand from China and other emerging economies.Oil - $US90 a barrelOil pushed through $US90 a barrel for the third time in two years, after the banking crisis raised fears of a slowdown in the world economy and a cut in demand for oil and other commodities.On the sharemarket, the big miners performed well, Rio Tinto adding 42¢ to $87.20 and BHP Billiton up 65¢ at $46.47.Shiny metals have also hit fresh highs recently. Silver has reached its highest price in 30 years while palladium has traded at prices last seen in 2001.The spot price of gold was down $US2.28 an ounce at $US1387.20 at the close of Sydney tradeUS MARKETS BREAKING NEWS :US regulators seeking an overhaul of the $US583 trillion privately traded …