Ann: Update on IGO Offer, Operational Review and Funding, page-37

Nlinvest,
I don’t need your arithmetic, quite capable of doing those sums myself, but the assumptions you base them on is naivity.

One has no certainty that buying PAN today at 34 and accepting the IGO puedo-offer will result in IGO shares that can be sold on market, rather than result in being handed back your PAN shares, then trading at perhaps 25, and then to watch them sink ahead of the next CR at perhaps 20?

The market very very rarely gives you a no-brainer, and this isn’t one of those rare times, it often gives you a fools no-brainer. Plenty of risk in your strategy. Atm I am going to trust the market on this one, as there are complexities I don’t and can’t know (and still wouldn’t if I had gone to the AGM - which would have been absurd given my holding size and the travel involved).

EL