Additionally, i am suprised the Board recommended to reject the offer and stipulated that the cost is $1.58 (Page 27 of DML Target Statement Reject Offer).
I read through once again, that the cost is above $4 mark (higher than the copper price itself). The cost will (hopefully) decreases eventually overtime.
The SP will still go to 1.70 potentially in long term, but not as soon as ( with bidders' offer, this will realise at least in April after delay ).
It is a great possibility the CF investment will walk away.
I agreed with DML initially that the offer undervalued, but after looking at the depletion, the offer is actually good value in short term, but not long term.
I am holding on.
DML Price at posting:
$1.35 Sentiment: None Disclosure: Held
