IGO offer sounds too convoluted for me. I'd prefer a fully cash...

IGO offer sounds too convoluted for me. I'd prefer a fully cash offer and I reckon it will come. First Quantum Minerals (owner of Ravensthorpe nickel) have recently announced a share offer to raise CDN$1.25B in Canada (they are listed in Toronto and London)

"The Company intends to use the net proceeds of the Offering to advance and expand existing production facilities, to increase financial flexibility through the reduction of net debt, and for general corporate purposes, including strategic investments to further enhance its returns and growth pipeline."

They will have a war chest for a counter offer. Let's see what happens.