Tenbanger, through my experience, i have learnt that there are...

Tenbanger,
through my experience, i have learnt that there are primarily 3 types of investors on the market.

1] These investors put in the money hoping to gain some traction on the initial discovery holes. Most of the highest profit margins are made during this stage.

2] These investors purchase during the flatline stage from the company expanding its resource base whilst at the same time, conducting their feasibility studies. This is considered by many to be the "build stage". Profit margins during this stage is average but this is primarily the time when buyouts come in.

3] These investors buy into the company during the production stages and the corresponding dividend stream that is dished out. They are generally conservative in nature but understand the project dynamics.

Your view on exiting at 70cps is valid. Most of the class 1 and class 2 investors would concur. But class 3 investors are looking at share price levels much higher...however, most class 3 investors would not have bought in yet.

The Chinese generally come in with a low ball bid to test the waters. They consider the negotiation stage a chess game and prefer to plot out a strategy first....they would definitely know their buy-in ranges and have done the due diligence on the deposits.

What shareholders need to take note of now is that this offer has effectively derisked the projects to major funds. Hoepfully management can play the game well too.