The management will have released this after much consideration, as it is inconvenient for their plans. Bearing in mind the price has remained above the bid price, it seems reasonable to conclude that they have been advised that many [correctly] see the the $2.60 bid as simply too low. Bearing in mind how the management continue to downplay expectations it seems likely that an updated bid will be made, perhaps $3.05. But the company has become more valuable, the nav will have increased at 31/3/24 significantly and will do again by end June. So I expect them to get the 'independent expert ' valuation report out asap using the Dec 31 figures.
On a x2-3 nav basis, the co is worth from $3.06- $4.58 and I will not therefore accept less than $3.40 [but would prefer to hold for the next year or 2]
