I think DYL's announcement is a little misleading in this respect, considering this was a 100% share offer. It might have been ~30c when DYL put forward their offer, but going by DYL's yesterday's closing price of $1.07 (and hasn't moved much today), a 1:3.74 offer would be equivalent at just 28.6c today. This is pretty close to VMY's price at current time of writing this comment.
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I think DYL's announcement is a little misleading in this...
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INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
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