Im not aware of any potential offer around this price. but had we been trading at 22, then with the potential the BOD new about then I can realistically see that they would think that is a low ball.
I really dont know where this will end up and dont rule out a end price plus 40 cents. It maybe hard to see at this level but with the international interest in such a major resource, then its hard to see this being sold cheaply. We are progressing to mining and this could frustrate some and cause them to move early? But why is ML in China a few times a month? Something is likely to be brewing.
If a TO does come then this could be triggered by the minimum target of HY said by Citic as posted earlier in the thread. I feel I read it different to wombat2. So hitting and exceeding the 400 could make a clear case for action and Chinese can play games and India companies are also notoriously slow at bringing it together. But if the Chinese do show a hand then there could some rapid interest. As others have said, if one shows there hand then the others hold back and only move if talks breakdown. I disagree with this and see market competitiveness even with state control. there are shareholders, company directors with huge skin in the game.
So lets hold some hope that ML's work with the AG team pull a high value move in coming weeks, to then trigger FOMO in the corporate world for January. However it doesn't all work within our time requirements, so its all about patience.
@Wombat2 I do really appreciate and enjoy your contributions but I feel you misunderstood his point. It wasn't to fudge or a suggestion of that, but to be aligned with the need to achieve a minimum if it can be found. This could have caused a wait in further results to include? We may see this co-incide with action soon?
(20min delay)