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Uttsy,

To answer your question;

'Anyone care to comment as to why IDC managed to get such a premium? Am I way off in feeling like we've completely robbed?'

As some may know, I've been a significant shareholder and follower of IDC for sometime. One of the reasons I chose to invest heavily into their business was of because management's consistent ability to effectively communicate the underlying value of their asset, especially to the big end of town.

They have done this ever since acquiring Mt.Kare in 2011. As their project develops, management continue to work their obviously solid relationships with Baker Steel, Genesis, Capital, Black Rock and others to achieve the best outcome for ALL shareholders, hence the recent premium.

ABU on the other hand (and I've mentioned this a few times) lack in the area of effective negotiation and communication IMO. The straw that broke the camel's back for me came after last week's curveball, and the icing on the cake was during DH's presentation when he failed to convince and provide sufficient reason for his actions. The opportunity was there to redeem himself in the eyes of all shareholders but he failed IMO.

Principally that is the reason I have reduced my holding in ABU significantly. I need further evidence that their recent bungles are not a one off, and that can only come with time (if at all). Such a shame really because like IDC, they're asset is world class so they should understand how to leverage that fact above all else when negotiating on behalf of all shareholders.

So no, I don't think you are way off in feeling like you've been robbed, because effectively we have been IMO.

Cheers
Elpha