RE:I remain bullishMy 'guess' has been in the C $7-8/s range as well if you look at it from a mining perspective including the great location and existing infrastructure (cost advantages), proximity to a refinery, workforce availability, additional reserve potential - and -BISHA.
The C$4.75 is a joke and NSU BofD will reject it - based on the fact they rejected the previous LUNatic/EUROCRAP $5/s offer and - the fact that NSU are also quite open to developing the site itself ---- they see significant value in TIMOCK ------ HOWEVER ----
if RIO gets involved the offer would be more realistic. RIO would NOT screw around with this amateur nickel and diming, games playing, and a knuckle dragging approach for the sake of 60-80 cents a share more (an additional $200 million+) particularly when there is $140 million in cash in the NSU.
Split the question of value into TIMOCK and BISHA: there is no way anything less than C$6/s makes any sense.One is in production and has and will produce significant cash flow the other will be in production in a short period and will bring in huge amounts of cash immediately.
the LUN-actics -- are goofy amateurs and have demo'd it repeatedly over the past 2 years.