How will it be more dilutionary? You're making assumptions when we dont even know what UCLs offer is. If it trumps MAK right now it has to be at least 6c a share. They are stating a $4mill placement (or almost double their own current marketcap) so assuming they do get it thats still only an offer of 4c a share. Now if I was a BON holder and I was to decide on 4c or 5.7c which would I choose? Not to mention then BON shareholders are left with holdings in a company who now has at least 2bill shares sitting at probably .3 or .4c a share and needing to raise a crapload more cash to further the project.
Sounds like a roaring deal is about to be announced to me.
On the contrary it looks like MAKs timing on BON takeover has been a good one. personally its not here nor there for me but I'm not going to worry too much about 20% dilution in MAK to attain what appears to be a prospective resource. It's simply an attempt to acquire a resource at an opportune time.
AEV Price at posting:
49.1¢ Sentiment: None Disclosure: Held
