Macrae12...lol...thanks mate...I have always said this game is...

Macrae12...

lol...thanks mate...I have always said this game is as much art as anything else.

As you say, not the most profitable, perhaps a bitter-sweet victory (that's what I meant to type the other day)...but then again, not quite over yet either.

With a likely market rally in the months ahead, growing focus on metal coals given they are still relatively undiscovered on the back of continued interest for all things iron, critical mass and all it entails for INR, among other things...and finally, an unhindered, indeed potentially supported share price in INR from this point onwards...we may well see this play develop into something pretty special.

I notice a few have said they will sell...I suggest that is the last thing I will be doing.

I am trying to remember a recent similar scenario, (last 18 months?), where a scrip for scrip takeover on not dissimilar terms saw both the target and acquirer move up considerably during the post offer period due to market attraction to the deal...but for the life of me cannot remember who it was.

Ideads anyone?

Anyway...it looks to me like greatest value here is in holding out till details are on the table and voting approaches...at least in the interim here we have an investment that is more or less shock-proof (to some extent), from the current volatility.

And who knows what a bit of pro-active accumulation over the coming months might achieve...lol...but which target?

Whilst upset the initial price is way below what I consider fair value, I think this will not be the case going forward...especially considering the holdings in GUJ of both the parent company and key management.

The srip ratio however does not do justice to what GUJ brings to this union, regardless how high the price rises in the interim.

Cheers!