creation of a new mid tier company, page-3

Well that's certainly put a damper on my short term view :( long term might not be a bad thing... could win or lose depending on the arbitrary value put on the shares in the new entity! but it looks like they have valued CSM at $2.27/share.

Shame really because 2nd half profits should be substantially higher than first half.. Nickel alone should add significantly as the hedging is a) lower and b) at a higher price... I guess the new entity will have that going for it anyway... Will be interesting to see if it gets shareholder approval... anyone who bought in on takeover rumours at above $2.30 will no doubt be p|ssed. I'm kinda glad I topped up in the last two days... brought my average buy price down to $2.34 so I'm not doing my @ss too badly ;)