Have had this stock for while and wanted to sell a few times, but when i relooked at the figures if the mine gets approval, the numbers were just too good to sell.
Was about to sell 2 days ago after reading of the offer, and thinking that price would be a ceiling, but on re-reading realised that the bid is only for 50.1% of the shares, so then the rest would carry on trading. If Sumi succeeds in the takeover and fast-tracks all the approvals through its (corrupt?) contacts, then the 49.9% of shares could still benefit and so it could go much higher than the takeover price. Now, not sure whether to hold.
On the negative, with corrupt leadership, these people normally bleed the company for themselves rather than for the benefit of shareholders, on the other hand if they pay for 50.1% of the stock they benefit if the stock goes up.
Any thoughts or comments????
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