Agree.A few comments: 1.can't see an escalator clause in the takeover document unless that's enshrined in takeover law- doubt it.If you sign, may not benefit from a higher offer.
2.Some say should be content with the offer. Pull the other one! If you bought an unattributed painting by a master at a knock down price, did all the research, provenance etc and was proven to be a master and a dealer came along and said you should be content because you've doubled your money, you'd tell him /her to go jump. We took the risk before the LI was in the equation and at a lower resource size.Those who take the risk should be compensated well for that!
3.If many of us sign and the takeover languishes beneath the 80% CGT tax threshold, then you'll have to pay tax and perhaps to sell some shares to pay the tax.
4,If the company is not in the market, then decent volumes are being hovered up in expectation of a higher bid.
5.The number of shares that are held by the board is pretty pathetic given that some holders (Asculpeous included) hold almost that amount themselves, It says that the current board members were not prepared to do the hard work and take the risk. Did they put out any feelers for finance? It seems that they may have folded due to pressure from the US shareholders who may have their own problems that we are not aware of.
6.A note to CW whose input has been appreciated-perhaps you are a little too close to certain board members to have an unbiased opinion? You did do some work for them? Not accusing you of mischief but surprised you haven't come out wanting a better bid AND for it to go through. Perhaps you could use your influence to sweeten the deal if the bid fails on the first offer. Doubt whether they'll reach 50% on current showing,but good luck to them if they do,
7,Yes,the project will go through under RMS control but BRB holders will lose some leverage to an increased GP and the large re-rating that occurs when a developer becomes a producer. This can often be 5 bags plus sir in a rising gold environment
BRB Price at posting:
51.0¢ Sentiment: Buy Disclosure: Held
