It looks like an opportunistic bid. But what if it's an illegal bid and ASIC hasn't noticed? How could that work? Well, supposing (just supposing) Golden's friends have bought a whole load of shares and accept the offer. Golden can then claim they have 50% and forcibly buy the rest at 0.95. I'm not saying this is the case, not at all, but I have so little faith in ASIC that sometimes it seems that crooked operators can get away with anything. Example: They let some trading houses connect their computers to the exchange for "very fast" trading (a form of front running), they allow squillions of trades below $1 or so every day without any challenge, etc. The sooner this bid folds, the sooner I'll relax.
SMR Price at posting:
97.0¢ Sentiment: Buy Disclosure: Held
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