Yes all true, and I personally may want to continue on holding...

Yes all true, and I personally may want to continue on holding CMMC to realise some value. But there are always other options if people want to remain exposed to the upside in Cu prices, and you can bet that some of those options have a much simpler pathway to production and potential dividends and capital gains.

There is a big but in this case though, for AOH holders to realise value through the current offer succeeding, we have to make a lot of assumptions that CMMC management can continue to make money from a very low grade skinny margin operation in Canada, pay off their huge mountain of debt, have the expertise and willingness to commit to Mt Roseby, have the cash flow to fund the development and construction of Mt Roseby (or bring in a partner who does want to do it) and then after all of that we have to pray that CMMC keep all the current permitted approvals in good standing, and that all the prerequisite assumptions behind metal prices, exchange rates, price of fuel etc remain reasonable and that CMMC management are going to return value to CMMC (and ex-AOH) shareholders.

That's a hell of a lot of if and buts.....

I've only been in AOH for 18 months and it has treated me OK, but if you consider that there are other people who have had money tied up in AOH for much much longer, then you can understand the negative reaction from this lowball opportunistic offer from CMMC from some of the AOH shareholders.