Wow! quite a lot of chatter. I haven't been around seeing as I...

Wow! quite a lot of chatter. I haven't been around seeing as I think it's all over red rover. The reason is simply the comment someone made that cash is king in this market - the guarantee, in my position, that it will win.

Also the 100% cash on market nature is why this takeover at 31 cents is so qualitatively different than MAK's offer last year at 29 cents. The MAK scrip offer would have had a UCL shareholder with MAK paper at under 15 centsright now. This offer gives twice that in a pretty vicious market for the commodity sector, especially the minnows. Ugly ugly charts everywhere you look.

Cerhob is right re consolidations. Particularly painful for the long termers who did nothing to protect their position. However also not great for those like me that worked their holding but mostly would have effective costs near the offer price. That's the punt we take in committing to junior specs, whatever sector. If this takeover hadn't happened we would have been a significant winner in the long run.

Nobull, theoretically you have sound arguments on Mehdiabad but practically none at all - you can't make the market put a price on something it does not value at all. Even without the book write down we would still have been trading at 10 cents and the offer would be no different. I don't think you are doing yourself any favours in building up anxiety over Mehdiabad - you're trying to hold off a 1000 angry grizzly bears.