Definitely seeing some overhang. Plenty of supply at these levels despite some real buying interest today.
There is no premium here for holding a Middlemas shell - in fact its under cash value! With cash of $40m and MC of just ~$37m; the ability to get close to the price of Middlemas's $300k buy; and a convincing top20 holders list, I've been one of those buyers myself!
Not to mention the track record of Middlemas and the bonus of having him combine with Behet on board too (BKY anyone?).
Hopefully resources will be the play given their past success and present market love affair with smaller resource stocks.
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