I am aware of and agree with most of what you are saying. However I do not agree with your comment "The ONLY chance we have to get near the IPO price is if the independent expert says “it needs to be higher”, If this is the bargain that we think it is, I am sure there will be other miners who will be running their calculators over this, including Indonesian gold miners. It has been speculated that this has the potential to be a 5 mil ounce resource. So another bid is a possibility, although probably less likely from an Aust miner for the reasons you state. Federation Mining with a 13% stake and a very experienced gold mining team would have an accurate idea of the value of NUS. Their holding would prevent Indika from getting 90% which I understand is required to mop up the remaining shares through a compulsory acquisition. Imagine a scenario where Federation and some retail holders refuse the 35c offer, what other choice does Indika have but to negotiate an offer that will get them the 90%. I think this is a distinct possibility. I have a significant holding and will be voting no to the 35c offer without hesitation.
NUS Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
