Hi westie,Of course any price increase in the future, no one...

Hi westie,
Of course any price increase in the future, no one would ever know exactly when it will occur, 7.50 or anyother price.
However, PDN timed their takeover bid to occur just before a series of events were to happen that would IMHO, move the sp of SMM much higher.
Frist of all, there was SMM's JORC to come out sometime soon, and Alan Eggars had mentioned in the Courier Mail last December that Summit was spending 1 Million Dollars a month, and in his opinion Summit would have one of the top ten uranium mines in the world.
Add the fact that the ALP conference would start the 27th of April with all indications that the ALP were going to allow uranium mining to proceed.
QLD premier Beattie was already on record as saying he would follow the Federal Labor parties decision.
Lastly, the court case between PDN and SMM was to have a decision in early April and a favourable ruling for SMM would be naturally bad for PDN.
To move fast now with a bid before these events happen is what PDN had in mind.
However IMHO, investors know what is in store for SMM, and this bid is a joke IMHO.