smithclarke

any body know whats going on with regarding exsisting share holders and the new offering of $28.29 per share.just wondering what to do.cheers peter.

siamsusie

Hi Peter, my husband works for Rio Tinto, and we are shareholders, will ask him when he calls me today ss x

siamsusie

Just discussed it with my man Peter, apparently for every 21 shares you have then you have a chance to buy 1 share for $28...(He thought it was $20 but he could be wrong) hope this answers your question ssx

smithclarke

hi siamsuzie, thanks for the reply by the way,, i think its for every 40 shares you have your entilled to buy 21 new shares, am a bit worried about what will happen to the price's now, and i think rio are presureing share holders to buy new shares or holders will really loose on exsisting shares,, peter.

TheRutters

Frankly, if you're a Rio Tinto share holder you have my sincere sympathy. If you bail you loose, if you hang on, you loose.

If I were you, I'd be looking at suing either the firm who did the due dilligence on the Alcan deal or the board for taking it ahead

smithclarke

hi rutters and thanks for the reply, what do ya think is the best option regarding these tinto shares, i am thinking to whether it and buy the additional shares and and hope for the best in the long term, cheers peter.

TheRutters

I am in noooooo way able to give anything other than an utterly unqualified opinion. I work in the M&M industry, so I more have an opionion on how the company was run, not how it may pan out.

As an opinion only, weathering the storm sounds like a better option, as I cannot see how it can get worse, it still has mining concessions that, should the worst happen, indenture it against bankruptcy and people still need what it produces.

smithclarke

hi ya rutters, i think that is the only way to address this one would like to have said "solve"!! but hey ,,, in for the penny and all that!!!!!!!!!! ,, what do you do in the mining sector if ya dont mind me asking, peter.

TheRutters

I work for an Engineering company specialising in the Mining and Metals sector, so as the likes of Rio Tinto and BHP are our bread and butter in Aus, I tend to follow their goings on quite closely, but I'm no industry expert by any means