valuation discussion thread, page-143

It does not matter what anyone on HC thinks. The large institutional shareholders will ultimately decide what happens to AGM. Personally, I am very comfortable with my selling of AGM to buy ZFX. I am well in front with ZFX and I see further upside.
Just on AGM. At the current nickel price, AGM will earn no more than 65 million Net Profit after TAX. That is 8c per share. At $1.00, ZFX are paying 12 times earnings. I can buy BHP on less than 10 times earnings. On any comparable basis, ZFX are being more than generous and in my opinion, the instos recognize this. In the absence of any rival bidder, AGM will belong to ZFX very quickly.