K you are always dependable at providing thought provoking posts:
"These guys apparently bought 21 mill shares in the market place. That means there were 21 mill shares available."
Not necessarily all 21 million available because Resource Capital Fund (RCF) may have had several million from a while back but even IF they obtained only 10 million or so in the last few months when many here were complaining of the low sp then we now have good evidence as to why anyone would accumulate while still keeping the sp as low as possible. I do not think that RCF are the only ones, just ones that recently went over 10% ownership and that is why we now know.

I suggest that the majority of those shares were not obtained from another fund or anyone else knowlegable but from disheartened individual investors who lost patience and hope. Those individuals forgot the addage of buying when there is blood in the streets and selling into euphoria.

That is why the current sp has little significance. What is most important is the asset value behind each share. NOT has few equals. When push comes to shove the sp usually finds it's true value. I say usually because there is some undervaluing in a purchase if the sp was/is low for a long time.

Note FWR was bought for roughly 4 times it's trading price before the offers came out. How often do we see an offer 4 times over. (Typical is 30-50% over.) It means that the sp going in was severely undervalued.
Ditto for Noront's sp now. Just about all here are cognisant of that but how many were and still may be in a willing state to part with at least a good portion of their hold.

Beware and be patient. I know it is hard. You all would be surprised as to how often I have reached for a glass of wine to find some comfort while waiting. Cheers, Ed.