I believe that Gilbertson will up the offer, rather than see the bid fail. There is no other diversified mining company in Australia at such a cheap price. The only reason it is cheap is because a lot of investors were disappointed with it's poor manganese price 9 months ago. Even though the Company's profit and outlook has been improving the management have not tried to improve the share price, maybe looking for a bid, who knows. I do know that they made several significant discoveries in the last quarter which while announced in the Dec quarterly report, they were not announced to the market individually as most Companies would. Read your Dec quarterly report, you will agree they are significant. One new nickel deposit found (Gillet 16m at 2.6% nickel) and 1 new manganese orebody (Topvar)and the extension below Rhodes Pit.(42 metres at 48.4% Mn). I think that story on www.minesite.com says it all.
CSM Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
