read between the lines, page-23

Read the announcement properly kozzie, instead of just focussing on the $ value.

It's littered with statements like this-

"The offer presents an opportunity to provide the Company with substantial funding and working capital, to continue to develop its various projects."

and

"Substantial cash injection, which will ensure that Legacy?s ongoing funding obligations under its various joint venture agreements will be met, and which will assist in progressing the development of its assets, regardless of market and financial conditions;"

This deal is much more about development funding then it is about gaining an immediate few cents in capital gains from a takeover.