As a holder of both AVO and DIO, I think there is a good deal to be done. If the DIO directors recommend the bid, it will be all done and dusted very quickly. I reckon that will happen if AVO increases its offer to 1 for 2 - it won't have a huge impact on AVO to increase shares on issue by another 10m, but will make a big difference to attitude of DIO shareholders, who can't go past the valuation of Frogs Legs in the KPMG report and as measured by $ per oz in the ground.
Price before the bid is irrelevant now.. clearly AVO see the value, and why would they want to own less than all of the company.
AVO Price at posting:
$1.72 Sentiment: Hold Disclosure: Held
