well legally no "associates" of Zinifex are supposed to be buying on market.
But they could have cronies who know the bid will be increased.
Or somebody with enough money to buy those 300m shares claws was refering to, is trying to bluff zinifex into increasing their offer. Which may or may not work.
If Zinifex really thought they could win for a dollar, they would have offered 85c first and then increased it to a dollar.
Most of the handful of offers which have been attempted with this stupid two-tier pricing have failed in the Australian market. They are deeply unpopular because of the uncertainty about what you would actually get paid. I know they are commonplace in some bogus foreign market like Mexico or Moldavia, but they don't work here. I am surprised that the Zinifex management have let some clueless wet-behind the ears blow-in junior merchant banker from Moldavia or Mexico or Vaduz or wherever he comes from, to propose such a stupid bid. A couple of million on printing glossy propaganda and they got 77,000 shares only or whatever the number is today.
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
