It does make sense we will be taken over. There must be plenty of companies who can't stand the idea of us having a ten or twenty bagger, so it stands to reason somebody will offer us a puny 3 bag price and grab all the more substantial remaining upside we should have had.
I wonder if one of the reasons for our low share price is people switching out into SDL, hoping to bag a re-rating on that and then to come back here and repeat (I must admit I have given it some thought, but I am not going to bother). Fingers crossed for Tony Abbott to win and repeal that mineral resource rent tax: the last thing we want is a profit related tax - as a low cost producer we would be worse off than from paying a flat mining royalty.
FMS Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
