zinifex pointless argument

I have just realised that one of Zinifex’s main arguments is utterly pointless as far as AGM holders are concerned. Zinifex say that AGM does not have the cash to fully exploit the potential of Avebury, Melba Flats, Burbank, etc. etc. plus the other 90% of nickel bearing territory not yet explored. This may be true at the moment but if AGM shareholders sell their shares for cash then they will have given away any chance of benefiting from his future expansion. Under the scenario being presented by Zinifex the only potential beneficiaries of their proposal will be Zinifex shareholders. And even these people wouldn’t see a benefit for several years and given the overall size of Zinifex’s operations it is unlikely to have a material impact on overall profits. What was the point of making this argument to AGM holders who by selling will have their potential for material future growth taken away when they accept short term cash? The answer is none! Absolutely none! Zinifex’s argument is pointless as far as selling AGM shareholders are concerned and it was strategic mistake for them to place so much emphasis on it.
Let’s also consider the expansion future for AGM. Assuming that AGM have revenues around $200m per year for the next ten year years, surely there will be plenty of excess cash available to fund expansion. Given the relative size of AGM to this potential expansion, shareholders will certainly be able to realise the benefits that will flow from years of future growth.
As a final note, I’d like to go on records as saying that deep down in my sole I truly believe that AGM are on track to find the Australian equivalent of Voisey’s Bay. This is the reason I bought them and the reason I continue to hold. It would be a shame to do anything else.