But at what price will the bid come in at ? Two cents, maybe three cents, but I can't see it much higher unless there is a highly successful resource announcement.
Personly I hate takeovers, you work your arse off finding a (hopefully), successful resource stock, and someone comes along and makes a lowball offer.
Lazy management, holding massive amount of shares (given to them), jump at the opportunity to fill their pockets. Shareholders left holding at a low acceptance price.
An example of this is NWC, who claimed to have the highest value copper prospect on the planet. Lowball off comes in (from mates), and it is jumped on, accept, accept, accept, sell, sell, sell.
Ninety percent of resource stock will never go into production, they are only lifestyle companies for the directors benefits. Huge salaries for three days work a week, if that.
NMG Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
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