"More time is needed to keep the drill rigs going to prove the resource otherwise we will be addressed with smaller offers around the $10."
Actually Harlee the point of my post was that, based on currently available drilling information, the share price would be at least $14 for a takeover. We don't need any more drill results to get to that point, although more is better.
Since there is no takeover yet a 50% discount would be prudent, so I see the share price in the near term heading towards $6-7. I did buy a big chunk at $5.23, so I am hurting a bit, but my average buy price is about $2.60 and therefore I am not too concerned with Tuesday's action.
Sure wish I had some spare cash, though. If granny glue factories were still operating I would pack off dear old mother quicker than you can say "Buy!"
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