The terminology of the TH and suspension notice "received an offer for the lithium asset" still makes me think it is for the lot as is, no royalty, no remaining 249km2.
I've heard 2 prices today, $120M and $125M and I would assume they are in US$, so at 72c about $A175M.
BGS currently has 183M shares plus performance rights and options totaling a little over 40M all up, so 215M shares fully diluted. Anyone with any idea how they will be treated in the situation of a special dividend??
With normal dividends options are just left out, so I wont be surprised to see that happen here, but also expect a lot of options to be exercised fairly quickly.
Is $125M a fair offer ?? Will a better offer come along??
Will the company accept of reject? Ah the great unknown.
Hopefully something get's revealed on Wednesday!!!
BGS Price at posting:
33.0¢ Sentiment: Buy Disclosure: Not Held
