bid to buy mintails, page-8

I bought in at 21 cents. Don't like the sound of the 30day VWAP formulaic bid - even if they offered 100% premium, the bid would only be worth around 9-10 cents? IMO, not representative of the true value of ALL OF MINTAILS SA ASSETS (not to mention the current $20m in cash reserves). Sounds like a hostile and very opportunistic takeover bid attempt. Obviously would be a good deal for newcomers into the stock though.

Appears to be a full takeover and from the suspension notice release there is a good chance will be in exchange for stock in the bidding company - how would that work for present MLI shareholders if the bidder is a foreign entity such as DRD who are not listed on ASX? Would we receive cash consideration alternative in lieu? These are obviously just questions running through my mind but if ayone could shed any light on how these scenarios can play out it would be much appreciated.

Would be good if Mintails can retain some assets and maintain listing..


Yin - if you don't mind me asking, what is your average buy price on MLI? From reading your past comments, it sound like no more than 3-4 cents?