There has been much speculation about a cheap TO attempt.
In my opinion a cheap TO is not possible.
A hostile bid would need 90% and a bidding war that will establish fair value PLUS a premium for control.
Currently there are two blocking holdings.
A SOA needs 75% and most importantly BOARD APPROVAL and TWO independent expert reports on fair value etc.
Followed by Court approval.
IF the Board don't approve then a SOA is dead in the water.
Further.
I don't see how an independent valuer can value the resource.
They can only value what has already been found.
Not what may be found...
So accumulate on weakness
Watch the MACD
And average up...
There has been much speculation about a cheap TO attempt.In my...
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