what does this mean to the future sp, page-2

Hi HBSWRX,
All the following is IMO.
My guess is the price will stay about this level.
My quick calc on a 77% increase on the 8.3c closing price is 14.7c.

For the price to get to 40c would mean that the company would have to go into production itself and the large shareholders would still not be able to realise their profit. This is because there would never be the liquidity to sell the 44% of shares held by the top 20. Not to mention what would happen to the share price if directors started selling.

The only way that these people can sell their shares is through a takeover. The problem here, especially in a risk off enviroment,is that to get an offer you have to give a good premium on the future potential. As with Bolnisi, IMO, going into production here was never going to happen thus explaining the constant delays providing time to find a buyer solution. Chuck in a little bit of desperation as
time runs out and therefore the probable acceptance of this lowish offer as per previous Analyst guesstimates, which the company seemed to support by emailing them out.

To make this more palatable to the small shareholder, IMO, the price is suppressed or not supported which makes the offer sound better eg a 77% premium on the last closing price. By this stage most people are just happy to get out with a smaller loss.

This is the same story as with Bolnisi. The offer price of about $3 was thought to be well below its potential causing a lot of anger amongst smaller shareholders. The offer gained then was much better than would be gained now due to the macro economic picture. Just for the record I was not one of them, I bought my shares at 10c.

There is no reason to get upset about this, it is just IMO how things work and why I always harp on about price being the main consideration at this end of the market.

I guess if anyone does not like it there is always the option to go out and start your own company.

I will watch to see what happens with Spinco down the track.

Good luck to all, including the management and board.