Regardless of all this talk about the SP supposedly drifting lower and staying there..what are the chances of increased MRE on the back of even better drill results? (which seems likely based on visuals)
how will the SP stay down then when the independent valuer HAS to take into account the likely MRE in evaluating the offer price under the standard agreement terms?
Surely this is timed to happen before the offer is executed. This I believe is why Creasy was probably relaxed about the low ball offer of $3.50 or so, he knew it would be amended upwards.
This is apart from any possible other takeovers/consortium activity.
I see the likelihood of driftng to $1 as near zero. It's one thing I'm sure of.
