Just do what a lot of us SH will be doing. Nothing! Sit and wait and hope another bidder comes along. I doubt RMS will up the offer unless they are hellbent on 100%. Given the low ball offer I have the feeling they are happy with 50.1% controlling interest or happy to walk away. My gut feeling is they are more likely to end up with closer to 80% if not more.
I went through this crap with Summit Resources when they were taken over by Paladin, a couple of major shareholders locked Paladin from 100% control and Summit remained listed with about 12% of issued capitol available for trading. It was obvious that summit at some point in time was going to be taken out by Paladin and after a number years they made a scrip offer and got the lot at a fraction of the orignal bid offer. Stupid me remained on the register and so my holding valuation drop 85% over those years, it was a disaster, but then again this all happened at the peak of the Uranium cycle. At the time Paladin paid a shit load of money for Summit and nothing ever came of the assets it held. The uranium is still in the ground and most likely will never be mined given the Australian Governments negativity to Uranium Mining, in particular the Labour Party and Greens.
I personally will wait and see what happens with RMS and then decide what to do when they stop extending the final acceptance date. My situation may be different to other SH as my average is below the bid price so I am happy to hold out.
BRB Price at posting:
38.0¢ Sentiment: Hold Disclosure: Held
