$2.50 under takeover is easily achievable. Remember, MIM is the last 'diversified' mining house left in oz and they have some very valuable coal assets and shortly will make a decision on expanding its massive reserves. Also I hear that their copper reserves after deep drilling could tripple their existing reserves. Just a rumor i read somewhere. My view is buy as many as you can get now and just hold and ride it out. Xstrata offored 1.80 in november last year, and we are at 149. To me, that means strong buy, because as I said before, MIM is worth at least 2 bucks and if our market doesnt push it there, a coporate raider certainly will. Can't wait for monday, because as of tuesday, its full steam ahead with writedowns behind us. Dont be surprised to actually see the stock price higher after they report this massive loss rather than lower.
