Jojo,
Sentiments agreed entirely.
I can only believe management are recommending this low ball offer because they have been so prudently cautious and conservative as to the pon in their investment decisions. They have thereby convinced themselves of an historical pon environment [either that or something seriously wrong with their growth story, eg Activox].
Managements 19%, and their poison pill could be obstacles for another bidder, however money will win, and we need to see at least CAD23 imho. Time for a Chinese or Indian bidder, as I don't know that the assets are quite of the scale or longevity to suit BHP or RIO. CVRD?
EL
LIM
lionore mining international limited.
xstrata bid details, page-3
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