Hi seaemay, yes, after the recent small share parcel buyback, UML still have about 500K shares on issue, so a cash offer at say 10 cents would require about $50million. However, a part cash/part scrip offer could be a possibility. Or Bass could just be interested in the Henty mine (and maybe regaining the Tullah tenement along with Henty?).
Although many UML(ex-BDG) shareholders would be looking at a substantial loss on their original investment, many of them might prefer to see their holding moved into a company like BSM with a proven track record and a very bright future.
Despite some recent posts on here from people who appear to unaware of the facts (oops, I nearly said ignorant of the facts, but that might imply some lack of couth or other defects), I believe that the general consensus among BSM shareholders is that it is a well-run company with very competent and deeply committed management who give their all to the success of the company, and who brought Hellyer into production in quick-time under difficult circumstances.
Of all the companies on the mining boards, I think Bass would have one of the lowest percentages of dissatisfied shareholders on its register.
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