I won't speculate as to if TMR will get to 90% or not. I was an IBR sharehlder but accepted the offer (and I will totally agree with you that its a low one with respect to IBR's assets) from TMR. My reasoning was why stay with a company (IBR) that has a great resource, but management who are totally incompetent, cannot stick to their promises and now want out. At least TMR should have the ability to relaise the value from IBR's assets, something the IBR management have been shocking in their efforts to do.
The concern would now be if TMR doesn't get to 90% - your very correct in saying the share price will drop, as will IBR in the few times it trades as an illiquid stock. Imo if they don't get to 90% both companies are stuffed in the short term and both TMR and IBR shareholders will see their shareholder value reduced significantly.
L
TMR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
