i hope this works i am new at this.
no.1 we dont hope to scare you guys into doing anything.
but rather make you aware of why zfx may pull the bid. When you guys scream at management about their incompetence you may remember our discussions.
Value is easily determined and being ignored in favour of blue sky atm.
This chart shows MRE and AGM on the same chart. they follow virtually identical lines up until the TO was announced. Following MRE's trend since the TO we see AGM would have been around the 55c mark today in lieu of the ZFX offer.
I know you guys will say that AGM is so great that it wouldnt have been affected by the market but July 07 doesnt support that view. 47c would have been the dowside on black tuesday.
Now zfx's offer has increased agains the market value of AGM by way of margin increase. Do not be suprised if zfx pull the bid....they believe it has already been raised significantly.
is nearly 100% of todays value a resonable premium???? i say yes....you bluesky adherants probably say no.
In the event of a bid failure then i can assume that in the absence of another bid 55c-60c would be the downside target.
Who else has cash to pay you?
who else will get the benefits of having infrastructure and office admin people already in Tassie?
Only zfx would find it worth paying a little more than everyone else. this is what they have done already hence no other bids.
cheers andrewe
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