From the Freehills release, letter to KIM shareholders from...

From the Freehills release, letter to KIM shareholders from GEM's Roger Davis....

Something to the effect....

GEM has received a number of queries re the FX condition being triggered. GEM confirms the FX condition has been triggered, but has to the end of the offer period to decide whether to withdraw their offer!

They don't have to wait till the end of the offer period to decide whether to withdraw the offer. They can withdraw it any time they like, subject to ASX approval and any conditions the ASX may impose on the withdrawal.

And here's the unbelieveable bit....

"However, in the interest of PROVIDING COMFORT to Kimberly shareholders, Gem Diamonds undertakes that it will waive all outstanding conditions to the Offer, including the FX Condition, when it's minimum acceptance condition is satisfied."

Providing comfort eh!....begorrah!!~the only comfort they can provide me with is to make a better offer!!

They will waive ALL outstanding conditions (including FX) when the minimum acceptance level is reached!!...what a laugh!!
If they reach 90% acceptance, it's all over red rover...the conditions won't mean jack then!

But interestingly, they are saying they WANT KIM, even if the AUD hits parity, or beyond!

Is this why there is a lot of buying interest today, and the price has been pushed up another notch?

Currently 8 bids for 6.4m at 68.5c.....bugger all sellers....2.6m already been scooped!
Can't be because they will have their "safe" money in just a week or so...the offer period has just been extended...again!

Are GEM going to make a better offer to clean up the stubborn?
Does anybody else see that todays trading action so far, in some small way, suggests that this is on the cards?