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70.0¢ iron ore holdings limited

Just tuned in - thanks for this detailed reply - much...

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iron mike

8,527 Posts.

04/09/14

14:06

Post #: 13924528
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Originally posted by macssharesforfun ↑

Hey iron mike,

I just checked in to HC to get a 'BCI/IOH' update and, in reading back through the latest posts, saw yours of Saturday and your questions. Apologies for not responding.

Fwiw, I can only offer my opinion, so yeah, don't take this as investment advice.

I would first suggest you read the 'Note to IOH Shareholders' on Page 4 of the Target's Statement you should have received in the mail, or alternatively is available to download via this website. The 'Frequently asked questions' on Page 10 are also valuable.

I won't be signing anything until the key date for this deal, which imo, is 12th September. It is the current deadline for Wroxby (ACE/Stokes) to accept the Bci offer. It is unlikely, although not impossible, an alternative deal would materialize once the major holder has signed up. If or when his acceptance is announced, it is probably going to be game over. On this date there should be an announcement to the market (subject to there being no 'Superior Proposal') confirming 'Yeh or Nay'.

After that, the only 'conditions' that could effect the sale is the transfer of the PPA (Port) agreements with ioh, to bci, however it is indicated to be 'low risk'.

As for the rest of your questions, lets wait until 12th Sept.

Unfortunately, it would seem there is 'blood in the streets' around io stocks at the mo with a lot of 'shorting' going on so i would think it would be a very brave CEO/Board that would put their necks on the line for a counter takeover offer of ioh, at this time.

Sadly, in this environment, it may well be a case of ultimately accepting this bci deal and then stashing our 'new' bci shares in the bottom draw until the io price improves. Imo, sure as night follows day, bucklands ain't going to be 'green-lighted' anytime soon.

Good luck to all holders.

Cheers,
Mac

Please dyor.

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Just tuned in - thanks for this detailed reply - much appreciated. Have found out, meanwhile, about the 12th Sept/Wroxby date - recalling back to a few years back - when this stock was at 2.70 - and I was in my "Oh no, don't sell now - it'll head much higher" self "dill"usional greedy fog.

Sadly I've been too ill (flu - this vaccination prrof dire bug!)lu to even bear looking at stock screens during the first days of this takeover first being announced. Everyone seemed to be happy. And some (not on here) telling me this was GREAT. This obviously someone's play thing - but as usual, never the basic (and loyal) stockholders.

Yes, agree best to wait until Sept 12th - see which way Wroxby decide.

IOH Price at posting: $1.05 Sentiment: Hold Disclosure: Held
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