As a shareholder 88 cents maybe the best I can hope for. NPA in last fincial report was 67 cents. Average eps over next two years multiplied by 10 is 67 cents. Book value is 68 cents. What ever way you look at it, Glencore bid is reasonable and it would be a long time before MRE is at 88 cents again.
glencore offer predatory and opportunistic, page-14
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