RE: Buyouts everywhere we r soon Bought my first 1600 this morning as a takeover play.
Probability says "The high end gives and easy .70 gain"
The IMIC offer supposidly 31 Dec NR, was 115-140 pence (C$1.74-$2.12 at pound conversion 1.5168)
$90M Cash as of 14 Dec 2012 with 105M sh o/s, 112 F/D
The NPV post Tax $4.6B in the PEA, discounted to 5% is $230M,..this based on a Resource Estimate from Nov 2011. How much has the Resource Increased since then?
My value Target Price is C$2.85 F/D as fair value however with now apparently 4 more interested parties, this could get interesting
Cheers, Mark