the takeover!, page-13

so acorn have been busy accumulating and pop up with 5%, average price 25.7, another blow to MR Kleins desires

some market observers point out that the NQM is not trading at a premium to the offer price which implies the "market" doesn't see a counter offer

that could well be the case in which case the bid will simply fail and the shares fall and languish at which point i will buy more if they fall to 21.5c

Recent Broker NPV on the company range from 36c to 46c.

So what was Mr Walker upto given this type of NPV? Well he vended his tin/ base metals interests into NQM pre IPO at 15c a share. He is getting 10c cash and CQT scrip . He has monetised his mining interests . A good outcome for him

But of course his needs are not the same as a punter like me. I only bought in the last months or so, thanks tro Krudd I got in cheap. I have a two to three year view and though my family holdings are minor at 400,000 I have little doubt acorn take the same view (they are value based investors like me), Pickem has a fair stash and isnt selling either, so the 90% seems impossible.

Assuming Twin Hills comes on stream by DEc 10 the next 12 months sees maybe 50,000 ounces at $500 margin, 20c a share cash flow in 12 months at AUS$1400... why would you sell unless you got in at 15 and wanted out like Mr Walker