Blabber I think you're being unreasonably hard on the board. I...

Blabber I think you're being unreasonably hard on the board. I can only assume that your holding is currently underwater, perhaps significantly?

Bossdog is spot on, as outlined in the target statements the bidders have acted with extreme opportunism. Whether they were in cahoots with M&G on their disgruntled sell down, or perhaps Citi became aware of the story, they swooped and made their bid after the fall under $1 (yes the SP did recover to $1.20/40 or so before the bid). AND this coincided with Citi's now impossible to locate research note citing unfounded cost blow outs and and price target of 50c.

AND all this occurred around the vulnerable commissioning phase.

This was no less than an organised hit, which due to the BOARD'S NOUSE has failed...for now. I think the bidder will find it difficult to come back with a new lower figure if DML can get on with mining and milling at over design rates, along with hitting the richer ore in the deeper and more central areas of the pit. PLUS more exploration success. I believe that 3 months (or I thought I read 4 months for a new bid) of more successful production will give shareholders a great deal of confidence, and hopefully put a floor under the SP up around $1.50/70+. Let's not forget the independent valuation of $1.74 - $2.11. Add to that speculator/investor support for high grade, low sovereign risk, long life copper assets IN PRODUCTION!!

The bidder had their chance at $1.70 during the initial high risk phase, this failed and I don't think they'll get that same chance again, PLUS the board and shareholders will now be more in tune with any new waves of manipulation in preparation for a subsequent bid.

The board didn't preside over a slide, the board presided over an assassination attempt, and with great aplomb survived and will be stronger for it.