Not necessarily , the whole principle behind a TO is to acquire...

Not necessarily , the whole principle behind a TO is to acquire future value at a discount now, that implies anyone offering a premium sees value further down the track , our bigger shareholders are well aware of that....they have the time and the patience to wait to get that future value for themselves..

Any T/O bid , friendly or otherwise would bring on a TH untill management gave guidance as to it whether represented fair value or not...all assets are for sale at a price but thats very unlikely to be recieved at this stage in proceedings, it would need to be a very good premium for that to occur IMO...

In the case of an on market bid it wouldn't take long for a raider to get 20% relatively cheaply as the weaker hands and traders get out but the 200 shareholders who own 70% of the Company would wait for Company guidance first...would be quite a nice problem to have as it would set minimum value on our assets which would reflect in the shareprice....

I'm not expecting this outcome but it's always a possibility...

Cheers Whisky