This is just extremely bad news for all those who are holding the stock at prices more then $1 which imho are a very large number of share holders including myself.
Just look at GBG where Ansteel took more shares when the GBG stock was at its lowerst levels, even when they doubled the price for their extra shares , most holders lost out because of the fact that they paid far more for their stock not soo long ago.
Every take-over bid of our miners coming from China or Asia can be regarded as opportunistic and and a fine opportunity for the predators to get our resources at a very discounted price.
Not only are the shareprices of most miners at all time lows but also the A$ is at bargain prices so a foreign buyer get our resources cheap as chips.
what a shame but the writing seems to be on the wall lets hope that other major holders will stop this pending take-over as I will certainly be voting agains it.
Not happy
jojo
AGO Price at posting:
45.0¢ Sentiment: LT Buy Disclosure: Held
