Feeling like highway robbery now

The Australian gold price at the time of announcing the Spectrum takeover was A$2,300 and the current $A gold price is currently hovering around $2,700 (I.e. A$400 higher)
My broker doesn’t think Ramelius will get to 90%+ acceptances, unless they quickly sharpen a pencil, before the rest of the world wakes up to that fact.
My brokers view is that Spectrum will be staying listed as a boutique junior emerging gold entity that in 2021 will be co-developing one of the highest grade, most profitable (per ounce) gold mines in the state of WA.
Acceptances for the current offer have now stopped to a trickle at 75%.
My brokers logic is that this higher gold price of $400 ounce translates to an bonus (extra) $140 million worth of future profit to Ramelius (based on the 355,000 reserve ounces)
He reckons over the term of mining the first Spectrum reserves if 355,000 ounces, Ramelius will be planning on banking A$640 million + profit. (A$2,700 gold price less costs of $900 x 355,000 ounces) and that’s before they find any more extensions under the pit or around the area.
The current price of Ramelius shares values the whole Spectrum company at a messily $166 million (yes, unbelievable) ... which is clearly highway robbery on the current takeover terms
Director’s of any astute gold producer would surely want to own much more than 75% of such a future cash cow gold mine, particularly whilst there must still be some outside possibility of owning 100% with realistic amended takeover terms.
The directors have previously stated, “The combination of Penny West with the existing assets of Ramelius will build a gold business capable of delivering exceptional future returns for our shareholders.
”Ramelius said when announcing the agreement that there was “significant” potential to increase the resource at both depth and along strike.Penny West is about 150km from Ramelius’ Mt Magnet mining operations and its ore can be treated at the latter’s plant, offering cost savings and operational synergies.
I’m not going to be selling my Spectrum shares until I see a much more realistic offer ... now understanding all that.
Who said brokers aren’t worth the commissions we pay them?? A really good broker is worth their weight in GOLD.