dml takeover target, page-54

I would like to ask where are the other potential suitors, who are suppose to be at least "positioning" at the share registry ?

If they can buy it at 21 cents, why are they trying to compete to purchase based on CFC bid at 35 cents ?

At the debt of 129 million, the company has 489 million shares. This would give a debt value of $129million debt/489 million shares = 26.3 cents.

Now, the question is why would a company be bought at 35 cents X 489 million shares = $171 million shares.

If the company agrees to be bought at 35 cents.

TOTAL VALUE = $171 MILLION
LESS DEBT = $ 129 MILLION
NET VALUE = $42 MILLION OF COMPANY

At the moment, the company is being valued only at $103 million.

This gives it a discount of 20% of its debt value of the company. (21 cents/ 26.3 cents).

Let us hope there will be no more variable factors such as additional capex, copper yield downgrades, market sentiment,

I will only have shares that I am willing to lose 100%.

I am not smart enough to understand the market when it is at its strength what more now with it's knee height debt and questionable operation.

let us hope it gets better...as I have lost 80%!