re: Ann: Variation of T/O Bid - Extension of ... We are now 4...

re: Ann: Variation of T/O Bid - Extension of ... We are now 4 working days from Sunstars original expiry date (23 March)

If there was/is going to be a 2rd offer or a cornerstone investor etc I would have expected it to be announced by now.

Clearly with Sunstar buying on market (Daily?) they are still confident. The very interesting point is they have been buying upto $0.27 and to date they have not bought at $0.28. (5.14% in 6 weeks not bad) (Inc 75K offer acceptances.)

Sunstars offer can remain open for 12 Mths and every time Sunstar varies the conditions the offer closure is extended at least 7 to 14 days buy law.

This means considering Mailing time we can make our decision in the last few days.

I am confident Sunstar would know the $$ offer to win over the majority of shareholders. (50% (Suggest Mid $0.30s)

Sunstar do not have to negotiate with the Directors they can just announce any changes directly via ASX announcements.

But like going to a House action they need all the appropriate approvals in place before they can make a legally binding bid. (Unconditional is the key word)

I am incredibly disappointed that AHR has not announced the timing of the drilling programme hence giving loyal shareholders hope and a direction. (Early 2011 commitment has past).
Considering the cash burn with Consultants Lawyers fighting a takeover do they have the money left for the drill?

With directors recently spending $165K buying expiring options @ $0.25 this should give shareholders confidence. But $0.25 x 12% is $0.28 not bad minimum return for say 10 weeks. Underpinned buy a takeover.

Considering the current market volatility imagine where the AHR share price would be today without the $0.28 takeover underpinning the $0.27 share price.

Unfortunately due to share holder frustration, market conditions & lack of drilling progress I can see Sunstar getting there 50%.

Please DYOR and make you own decision.