zijin deal not so great for existing holders!

Morning All, Just reading the press coverage of the Zijin bid and it strikes me that the Directors think this is a great deal for themselves, the workforce, Zijin, and hang on what about the existing holders - not much to say about why this bid is so good for us.

And in a great piece of timing gold is up hugely overnight.

What I want to see Norton do is stay independent. This year the objective should be to fully repay the $48m we owe Merrill - we have the cash already, but need to build a buffer so really need to be $30m+ net cash before paying the debt off. Margins are reasonable, even if costs should be lowered $100-150 to make that equation better but we have the workforce to do the job. Remind me why existing holders need Zijin to come in and swipe 80% of our upside. The whole reason to own Norton has been because we were waiting for the day they would get clear of their debts and propser and its here!!!!

I'm in a fighting mood this morning and don't think we should resign ourselves to being taken over the way Goldone sank with barely a wimper.