The independent report is an interesting read. The valuation is set between 69.5 and 96 cents per share. I would not be surprised to see another bid come in from one or more parties. Reasons:-
1. Independent Valuation substantially as compared to low ball offer by Amec @ .55
2. Offer by Amec was made in very different market to the one we are now currently in
3. Mining industry should start ramping up projects which GRD will benefit from
4. Amec looking at establishing strategic position - other competitors may see this as threatending to their position eg force counter bid
5. Amec has done extensive due diligence so another party should feel confident of minimal risk in not being able to do their own
If something is to happen I would think it would occur before November.
GRD Price at posting:
54.0¢ Sentiment: Hold Disclosure: Held
