"Flinders’ Board of Directors unanimously recommends that all Flinders shareholders vote in favour of the acquisition"
I don't think you can slam directors as has been posted many times they recommended the offer at 30c an all time high for the company just shy of 100% premium to market price & there was a long opportunity to take this on market without having to muddle through paperwork to prolong the exercise. It was a great opportunity but people still whinged & whined about it speculating that RIO would move forward & up the offer (always unlikely). It's the problem with far too many stocks that greed sets in & shareholders expect more, sure sometimes there are lowball offers but this wasn't the case unless your ruling it against your own "expectations" of what may happen. If management did move to go it alone not only would of there been huge risks that all objectives would be achieved - rail / port allocation but you also have to consider the MASSIVE diltuion of your current holdings that would of occured to fund everything from the current point of resource definition to first shipment - then take into account the time value of your investment over the next 24/36 months. Not trying to dig on a down day but you can't slang management they provided you an amazing opportunity to cash in but all people can do is throw blame around because they didn't grasp that opportunity when it presented itself.
Good luck to all & hope the offer presents itself again.
FMS Price at posting:
12.7¢ Sentiment: None Disclosure: Not Held
