"Consider as an example that Xstrata makes an offer for Noront with not enough time going by for others to react, what would be Noront's sp then? I say immediately at least double of present and perhaps tripple.
Within a short time Baosteel or other interested parties would have to respond.

In such a case those $1.16 warrants of Baosteel are likely to be worthy of excercizing and even if the sp was not quite up to $1,16 they would be excercized to lock up shares and provide a tougher egg to crack for Xstrata."

They have to move fast, the $ 1.16 WRTs do expire next June... GLTA.