the fallback to selling into the bid is 4 drillsearch shares--about 8 cents without the bid.
will 3d slip back under 8 cents without the drillsearch bid? most companies do slip after a bid fails.
i think most companies don't make their best bid first up, and beach was just trying for a cheap drillsearch.i don't know if they have enough fat in the bid to take 3d as well, but it isn't highly dilutive for them,and they have existing bass strait operations.
i did wonder for a long time before sending the papers off, but i don't see a short term downside.
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- makes sense to go beach.
makes sense to go beach., page-6
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