Forgot about this post sorry. I note your points but feel ELM is too heavily discounted to the bid to reflect such powerful value for the bidders price. Markets just dont work like that. IF they are excited by ELM to give Dingo a massive rerate then that concludes certainty in the bids success and they would arbitrage ELM heavily. We are seeing the opposite.
This morning I stopped out as the potash pricing chaos from the cartels collapse puts the initial bids certainty in question.
