holding options on take-over?, page-11

illiquid.
I totally agree with you. Looking from a shareholders perspective the idea is horrifying.... and it is only a suggested possibility.
But Company Directors look at the big picture differently. They consider what might be best for the Company... not shareholders.
From a Boardroom perspective, getting Wyoming to production
or almost, (say 2014)and flogging off, then pouring bucket loads into Karoo, (original target was 2017, now maybe 2020)get that almost to production then flick it off. (Remember the Chinese were sniffing around there last year).
What happens to the money?? dunno, maybe look for more acquisitions? but it is a sure bet shareholders won't get much of it. Maybe the PEN sp could be around 70c+ just with Karoo come 2020? and change in U sentiment by then.
Anyone here remember Allegiance mining AGM takeover by Zinnifex, 3 months before startup? (Have noticed Raynkaye & malua) Helped bolster zfn mc for merger oxiana.

I have been to rakiraki and seen the surface exposed gold. It is there all right but I don't think PEN will ever see any of it.
I am not suggesting for one moment this will happen. But if I was on the Board I would certainly lay the idea on the table. And would be surprised if the idea has not already been noted
Best be aware of all possibilities. Don't go picking colors for your new Ferrari just yet newbies.
Cheers all.