Hard to know what new figure Zinifex will come up with but if they are really serious they will come up with a higher number.
There are obviously a stack of punters who have been prepared to pay up to 9c premium on the offer price with the expectation that Zinifex will make an offer North of the premium they have paid and they will make a quick profit.
There is always that question of money now vs much more money later and the risk associated with trying to get it (i.e. the potential that further exploration of the tenement will turn up something much bigger).
I'm not too phased either way. I am happy to stay on board with the beards as they try to develop AGM and their various prospective targets and I would be equally comfortable if Mr Zinifex said mate, we've got 80% of the shares so here is a cheque for you for (lets say) $1.20 per share. Either way, it is all good.
Chinkiat
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
