I would be very disappointed to be taken at $4.
It would mean an good profit but that is not the point. A TO has to reflect the current value of the company.
It was valued at about $4 in May 2011. Production had just started at a low rate and the haul road was not completed. The venture was not proven at the now established delivery rates. And I suspect the valuation was conservative, high enough to topple the $3.30 TO bid.
And do not forget BCI may have a 20 year mine life proven next year as well as the possibility of more finds.
At $4 it would be a steal. Current prices are manipulated and nowhere near reflect true value.
Pat
todays trades, page-10
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Last
24.0¢ |
Change
-0.005(2.04%) |
Mkt cap ! $692.2M | |||
| Open | High | Low | Value | Volume |
| 24.5¢ | 24.5¢ | 24.0¢ | $19.86K | 81.72K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 831078 | 24.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 24.5¢ | 73168 | 2 |
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| Last trade - 15.56pm 22/07/2024 (20 minute delay) ? |
| BCI (ASX) Chart |