takover price

On further reflection any bid around $1 is insulting considering $81m cash to come from BMG that would be like paying $9m for the iron (20%), tin, copper/gold and coal which is ludicrous. Hence this would have been fobbed off early in the week and back trading by now.

With drilling results known in August at the expense of BMG, like SFR last year $4 plus could and i stress could prove cheap. SFR went from 4c to $4 in 9 months on proving up their iron ore resource.

Given they have gone the full stretch this week a number no less than $2 is only just a plausibilty on a pre-drillig basis.

Also remember to get to 50.1% the company has to make an offer and buy off the market.So a conditional 50 or 90% doesn't really matter. What is important is what Giralia want.