Shame we won't get to see what many of us paid for this stock; just another bad investment decision.
But, as the song says "always look on the bright side of life" and that is what I am trying to do by loading up at 21c and anticipating a nice profit.
My rationale is that these bidders must be genuine (I don't think RIO would be dealing with wannabees)and capable of completing the transaction. The offer of 21c is low-ball and won't get up and will need to be sweetened to say 26-30c. The other possibility is a Soul Pattinson or Oz Min coming out of the woodwork and getting a competitive situation going. I would expect to eventually get a 30% return with an improved bid.
In any event, even if the low-ball offer gets up at 22c I would still show a 5% return in a short period of time - beats the bank.
The only risk is the bidder walks or fails regulatory approval, but that doesn't really matter either because I suspect the share price would continue recovering as it has of late.
Just a thought DYOR.
IVA Price at posting:
20.7¢ Sentiment: Buy Disclosure: Held
