Ajax,Oh boy, ‘6 posts, he doesn’t know what he’s talking about’...

Ajax,

Oh boy, ‘6 posts, he doesn’t know what he’s talking about’ is your leading argument?. Not that I have to justify to you, but I don’t find the online discourse that appealing and there’s a lot more important things in life than valueless back and forth with strangers. You may also note that I created my account two and a half years ago. I made my first trade in 2014 and have been frequently trading ever since. -it’s not meant to be a dick measuring exercise, just instilling that I have a bit more knowledge than a scale based on per post rating.

my ‘expertise’ swaying the weaker hands into offloading? If you read my first post on this thread I actually said people should be buying the crap out of PAN, it is a bargain, regardless of the take over being successful, there is money to be made at PAN’s current SP, I just feel that those profits will be realised a lot sooner if they are converted to IGO.

Entropylord,

I Wouldn’t say naive, opportunistic possibly, but to infer that I haven’t thought about it is a great misalignment. I have done my research and crunched the numbers. In fact, I bet I am the only person on this thread who was actually at the AGM last month.

What is the obvious downside risk that I’ve missed or placed not enough emphasis on? I could’ve well and truly made a mistake, I’m human, I am open to having my mind changed.

Conditionally vs unconditionally, high level, what is the difference in the scheme of things. You either think the 13:1 offer is a good deal or not. Unconditional may mean that IGO can pull out of the offer at any stage, or continue to extend the offer period but at the end of the day, you either think it’s a good deal or not.

What I don’t understand is your position from a logical stand point.
You are in a dingy which is leaking fuel, the captains have already jumped over board. A yacht pulls up aside you and says ‘look buddy, I know you love that little thing but I’m willing to share my yacht with you and heck, you can even use my boat to get back to shore.’ Sure you can stay on the dingy and pray you get back to shore before you run out of fuel, or you get on that yacht and get there a lot quicker.

In the interest of getting to the bottom of it more efficiently (because to be frank, we’ve all probably got better things to do with our time rather than sitting on a computer), I want to outline simply why my position is to accept (outside of the analogy I used above).

The closing SP of PAN = $0.34

The closing SP of IGO = $6.23

Let’s assume you bought 130,000 shares today of PAN. And the offer went through

after conversion, you would have 10,000 shares in IGO.

Your initial investment was $44,200

Post conversion your IGO holding is worth $62,300.

That is $18,200 or a 40.95% ROI. Regardless on how much you invest that % remains the same, invest $5,000, make $2,047.

I accept that the above doesn’t factor in the time between investment and sale, but I’m fairly confident that IGO will maintain or increase their SP based on current trends.

It only makes sense that you don’t accept the offer if the average purchase price of your PAN holding is above $0.479 per share based on today’s closing SP. likewise the PAN SP would have to go above $0.47 for the value to reach parity with that of IGO’s offer.

The IGO SP would have to fall underneath $4.42 for all profits to diminish based on today’s closing SP.

As I said a lot earlier in this barrage of text, there’s money to be made on the current SP irrespective of the take over going through. I just think the quicker path is through acceptance.

Interested to hear your thoughts.