For myself, I hope this deal fails.
I'm prepared to hold and take my chances with the Eritrean political problems, as i see much more upside ( and exploration upside) in getting to production.
Best you'll see at this stage is perhaps 50 cents/share as an offer ( pretty significant premium on the recent SP), but nothing like the premium in 2 years as a gold producer, when it could be $2-$4 per share.I don't think thats an exaggeration, but it comes with risk.
Yes, its the long view versus the short I know, but the predator is buying precisely because of the inherent value as a producer.
non-binding letter , page-12
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Last
97.5¢ |
Change
-0.010(1.02%) |
Mkt cap ! $383.1M | |||
| Open | High | Low | Value | Volume |
| 99.0¢ | $1.01 | 97.0¢ | $661.1K | 673.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 34020 | 97.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 98.0¢ | 22642 | 9 |
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| CHN (ASX) Chart |