There are actions disgruntled shareholders can take to form voting blocs and become activist like, but it is my experience that the rewards never compensate for the effort.
Sadly to say for those that didn't realise what was afoot...... the real money making was in swing trading the ups and downs leading up to this event. There have been plenty since the departure of GD. Not easy for the inexperienced though because this stock has always been a liquidity challenge plus there was always that over hanging promise of offtakes and finance in the pipeline that causes perceived risk to timing a swing trade.
However, a tip for new players is to watch such things as those reports like The Next Mining Boom and The Next SmallCap etc etc and sell into those report releases. Stocks nearly always pull back after spiking on release of such news. More so for stocks like CXX that looked like they would be taken over before ever reaching development and have implied SP capping and manipulation happening from time to time.
IMHO just hope for the best and mark it down to experience. Regardless, it always leaves a sour taste no matter how experienced one becomes in stockmarket gyrations and related corporate flim flam.
It is not uncommon for the first takeover offer to be raised. However, normally that occurs when the Board is ambivalent and usually a large shareholder is not supportive in the first instance. Sometimes a barrage of scathing emails and phone calls can make a Board do a rethink on their initial support.
Sadly in this case I doubt a Board rethink will occur as it looks to be a set up long in the making any which way.
Cheers
CXX Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
