who else will accept?, page-8

he timing of The MAK attack was quite well planned. MAK will be getting BON for net asset VLUE AT NO PREMIUM FOR ALL THE WORK done so far on the offshore leases. ie no goodwill.

As I understand BON has close to $2m in the bank that makes the actual offer even worse.
The value was based (in reality on the lowest point in history share price at around 4-5 cents) How many companies value shares like this. No I have not read the recommendation as they tend to be influenced by particular individuals.
It is my belief that if MAK had left BON alone , with a little promotion, and the market bigining to show signs of recovery the price would have crept up to a better price setting a new platform for a CAP raising.
This is not just another sec stock -its one with substance . Anyhow thats what I thought and thats why i bought more , for the Phos play. I guess MAK were thinking along those lines also.
From a shareholding of 500,000 one will end up with 50,000shares in MAK .
It BON give an offer of 9 for 1 that one would endup with 4.5 mill shares.
Bon does a restructure 1for 10 total shares in BON 450,000. What I am trying to say is that my percentage interest in the Sandpiper project would not be diluted by uniting with UCL.

Cheers

Chass