$1.4 billion in reserves????not alot is it?there are many micro...

$1.4 billion in reserves????
not alot is it?
there are many micro caps with IGV similar and more.
sure they may not be economic at certain prices etc but the difference is surely not more than the $800 mill being offered.
In the end despite what the beards say....the know that this may be their only opportunity to cash out totally.
its natural to try and get as much as possible.
in the end they know the reason they are not getting an independent valuation.
They know the reason they are not using normally accepted methods of valuing production companies.
they know that nothing is guaranteed in terms of future demand.
they will sell if the offer is seen to be ok.

Remember SMM took an offer from PDN when they were $10 a share. they took script and now that is worth half what it was. This is cash. and it has to be worth more than any script offer.
cheers andrewe