i suspect wah nam will accept ago's offer

I strongly believe WNI will accept AGO's offer for FRS.

FRS holders accepting AGO's offer prior to 20/9/11 will be entitled to AGO's dividend.

http://www.asx.com.au/asxpdf/20110908/pdf/420ysnkz3cdw5l.pdf

WNI holds 40,934,400 FRS shares (or 10.01% stake).

This means converting to AGO's shares will be 10,233,600.

Multiple by 3c (per share) = $307,008 cash in their pockets (I think they need the money more)

Also another factor looking the trading volume of FRS at the moment esp. low liquidity. It would be hard for WNI to sell FRS for over $1 at such liquidity.

So this supports my thought, that WNI accepting AGO's offer, then they can wait for the opportunity when AGO is over $4 and sell it then.