about a week ago taking HUGE advantage of the market lows. They dont specify the price or the amount they paid but I suspect they exersised their option to buy an extra 2% of RIO increasing their stake to 11%.
As I mentioned earlier in Sept the Australian govt gave them official permission to increase their stake by 2%.
Now they stand to profit from a possible BHP/RIO merger or simply the market going further up against paper money.
Don't think we'll see $2, but here's my take on ACH (and market as a whole).
This is classic history repeating itself- market will slowly gain over the next two months (taking ACH to around $18), it will give into panic as we retest the lows of last week (ACH will act accordingly), then we bounce and turtle-speed upwards for the next 6-18 months (Dow will top 10k again and ACH will settle in a range between 20 and 30).