I think just the opposite. It has always amazed me that no-one has come forward with an offer before ZFX. Perhaps the reason is something to do with THR and DD. Their main weakness has been in selling the enterprise value of AGM.
Firstly There are 3 lines of lode at Avebury and the surrounds. Melba loosk like it will be bigger ( and certainly richer ) than Avebury. If not for Sub-Prime effects , exploraion constraints, Mine commissioning and lately ZFX forcing directors to deal with the takeoever instead of long AGM shareholder interests, AGM would be 1.30-1.40 right now.
Anyone in the nickel business with money would not require access to the AGM data room in order to determine that AGM is a $3-5 stock within 3 years and $5-$10 after that. Just do the numbers on 3 Aveburys and 1 melba which is bigger than Avebury.
You can call it blue sky, but THR has been right on every geological call since 2000 and the edperts like keith goode have been wrong about AGM. The ongoing assays results keep proving a HUGE NICKEL PROVINCE
As I said, any late entrant into the takeover of AGM is a surprise to me, but only a surprise on its very late timing.
As i understand it, mine commissioning is on time give or take a week or so ( late march )
ZFX could end up having made a substantial error if another bid comes foward. When you want something really good, you should not be cheap. See the example of Xstrata. Many thought they overpaid for the nickel assets they purchased. Well Vale of Brazil is now paying much more for the Xsrata assets, because they like Jim Rogers now that the base metals demand has just started.
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
