In defense of pete11, I too am not sure about the term "dogs" for OZL... might be a bit stong.. but then there are nice dogs and not nice ones in all fairness, and the intent may have been to refer to the nicer breeds?
Anyone who is (truthfully?) prepared to forego (I mean lose) 12/17 x 100 = 70% of his investment to somehow demonstate his point that 17c is just Not Enough could well be regarded as a Martyr to the Cause by some. Credit is due.
One may well believe that 17c is Not Enough.
It is a democratic right to believe that, no worries .. but surely that fact alone should be totally independent of a decision to Accept or Not Accept... (Sell On Market or Not) ?
I always thought one's prime aim was to make money. Rational Investing.
That independent financial decision should be based on numbers and risk. Doing the sums.
Be angry, even kick the "dog" as pete1 might do, etc by all means, but look after your savings dutifully and weight a decision precisely. That is just common sense surely?
One can shout and scream that OZL had no moral right to put in a lower-end but credible offer. They should have been kind and maxed out at the start. Maybe that's true?? but OZL shareholders may have had a hard look at the career prospects of the OZL Board had they chosen to be magnanimous towards AVB holders at the start and gone more than 17c. Notably there was no competing Offer.
I do not think that the statement "..all here say it's not enough" is true in the slightest. Sure there is a strident group of posters, but there are also a less vocal group "here" who look at the entire situation intelligently and do the numbers. I would never be presumptuous and claim that "all here" are of any unanimous mind. I think I am seeing people constantly changing their mind right now. Apparently this is confirmed by "a few have retired from the group...". What "a few" means I don't care... but it is consistent with a marked general change.. (from my observation)
As for anyone calling the current situation a "game", well that is a term that I personally never use when dealing with decisions regarding large amounts of money. Each to his own though.
Anyone implying that G&G at 25% are likely (on the balance of probability) to Not Accept need to examine the facts closely. Look at Greenstone's website and see what they do, their corporate aims and policies. How they operate. I have done that in detail in order to get real insight. Will they be willing to chip in 17% of the massive total project capital requirements (through a pro-rata share issue) exceeding US$200m to move AVB forward??
.. anyway... interesting times still.
AVB Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
