There is an equilibrium between (a) the people who think zinifex will succeed for 90c and/or need the money now and (b) the people who think the bid will be increased.
The current price level reflects the relative proportionate numbers and/or wallet size of those two groups.
The fact that the share price is currently 16c above the offer price, indicates there are more people in the (b) camp than the (a) camp at this time.
If there are so many (a) people and less (b) people as some are suggesting, the price right now would be closer to 92c. Or ever 88c.
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
