I actually said before the vote it was likey S/H would support manangemnt. (The traditional pattern). Then the activist/predator comes back and if management haven delivered they get the result of the activism. In this case, the activist has been proven right. I think an offer will appear. At that stage, a majority of S/H will accept it. My preference is an offer of script from a major but it may be cash from APAC.
The offer is likely to be low ball at 30% above the current SP but maybe 20c.
I'm somewhat gutted by the whole thing but I have to live with the reality of a low metal price environment. More bitter experience for me.
I think Renison on it's own with Nifty in C & M is a goer my expectation of the SP is in the 25 to 30c range.
Sorry, I haven't said more recent but I've been inordinately busy and knew I was likely to spew vitriol otherwise.
Ann: Suspension of Operations at Nifty Copper Mine, page-141
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