The offer is ridiculous. Not because of the price
Look, who's bidding for Bisha! Some backwater company with $1.44M in total assets, $78M in market cap, practically no cash. I don't need a $1.00 in their shares. No reported Q4 2017 results, annual 2017 results, not to say Q1 2018 results. And they are after $145M Nevsun's cash not to mention returned to profitability Bisha. And all of it with empty pockets, but useless shares. I'll try to insert their balance sheet but most likely the formatting will be lost. Here: EURO SUN MINING INC. Condensed Interim Consolidated Statements of Financial Position (Expressed in United States Dollars) Nature of operations and going concern (Note 1) Commitments and contingencies (Note 11) Subsequent events (Note 12) Approved by the Board of Directors on November 13, 2017: David Danziger, Director Stan Bharti, Director The notes to the condensed interim consolidated financial statements are an integral part of these statements. As at: September 30, 2017 December 31, 2016 (Unaudited) Assets Current assets Cash and cash equivalents $ 690,079 $ 5,511,102 Restricted deposits 24,038 22,343 Prepaid expenses and sundry receivables 123,048 169,922 Total current assets 837,165 5,703,367 Non-current assets Deposits (Note 11(b)) 72,890 Property, plant and equipment 50,436 32,436 Investment in associate (Note 4) 480,273 Total assets $ 1,440,764 $ 5,735,803 Liabilities Current liabilities Trade and other payables (Notes 5 and 6) $ 276,557 $ 851,003 Total current liabilities $ 276,557 851,003 Equity attributable to shareholders Share capital (Note 7(b)) 202,320,836 202,320,836 Warrants 2,627,351 2,627,351 Contributed surplus 4,427,777 4,679,005 Accumulated deficit (207,900,673) (204,890,732) Accumulated other comprehensive income (311,084) 148,340 Total equity 1,164,207 4,884,800 Total liabilities and equity (deficiency) $ 1,440,764 $ 5,735,803