Its Indonesia anything is on the cards , if it was an American or Japanese bidder then they would up the bid but in the third world they fail to understand basic Finance and NPV's which makes this a buy at anything up to $0.45 given recent exploration /met results .
They are wanting something for nothing ie the value between their offer and the intrinsic value of FND which lets say is around 35 cents so about 1/3 of the mine they want free
The sad part is having an out fit like this come in hostile probably has limited the appeal for a j/v from a larger miner with a partial cash payout to shareholders or for a bivy of buyers auctioning for FND .
FND Price at posting:
23.0¢ Sentiment: None Disclosure: Held
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