Hi El,
Back in trading in london right now and close to the bidder statement mark when I looked last.
The TSX has to give the lead as usual and we should hopefully see a close above the bidder price either tonight or in the days to come.
Somehow this remind me of the HDR take over where the same kind of clause was put in place for the management.
Not a good omen but then again LIM is no HDR , no comparison imho.
I would not disregard the chinese coming to the party although they are also not known for outragious valuations.
What does make me think is the fact that they ago around the world knocking at every nickel mine and trying to sign off take agreements.
What stops them of taking out a whole lot of mines in one go like LIM. They certainly have the cash to do so, and the Chinese smell a bargain from miles.
The bidder target is only about 5% above the last closing price, something in itself a joke imho.
BHP just announced that they expect firs ore shipments from Ravensthorpe by the end of this year.
Not a reasuring prospect but we still need to see this happen and even then with this extra ore , Nickel should be tight.
If we do not get an other offer for LIM then I will be extremely suprised.
The price has been kept low to allow being adusted in the future imho.
Management is a sell out , nothing like Mr Moore from WMC who fought for the company and its share holders to get the most out of the take over.
Even Mr Moore from MCR did a good job with TYC and got a counter offer.
Something in the name maybe......
lol
lets hope for the best
jojo
LIM
lionore mining international limited.
