These posts (not mine) were interesting in the UK. ' I've bought...

These posts (not mine) were interesting in the UK.

' I've bought 1m BAB over the last few weeks on the ASX and am pleased to have timed my buying well this time for a change.

I did have a takeover scenario at the back of my mind when buying in and Norton also came up as a possible suitor. I held Norton when Zijin initiated the takeover and from memory a period of POG weakness helped them reach 82% of NGF. They may be relying on a similar helping hand this time so I see a competing bid or merger as being key to achieve anywhere near fair value.'

Later when asked of his game plan he replied:

'I'm still working on the game plan but will be watching how events unfold leading up to the close of the offer period. I would be very surprised if Norton gets much over 10% with an offer of 7c and expect it to be increased and extended as they see little interest at that price or another party shows its hand.

Was looking at a couple of factors like the approx AUD12M in accumulated tax losses which I think could be used by Norton (AUD 3c / share added value) and ~AUD68m of issued capital to date (20c/share just to break even).

My thoughts are something over 20c or 11p would be closer to a reasonable offer.'

The interesting bit for me was the 2nd to last paragraph. Throw in BGL’s $3m in cash and NGF’s offer is imo, extremely poor value for shareholders.