RE:RE:RE:RE:RE:Will Rio act before Nov 28 ?RIO would need in excess of 20% before they realistically exert serious sway in terms of any buyouts being considered. Until that point, they are more or less "glorified retail" shareholders.
If RIO wants to take the 12%, so be it. But that needs to be the end of the gravy train. Paul can't prevent any entity who is willing to spend the cash from acquiring 20% or more of the shares via open market purchases, but the BoD should certainly not roll out the red carpet in order for that to occur.
I will agree with your sentiments about lowball offers being accepted as is usually the case with many juniors. Retail is usually not too bright and institutional investors can be lumped into the same crowd. Smart money takes a position and is willing to wait for the 10 or 20 bagger. The poachers and the non-smart money is too often more than willing to part with their shares for a piddly 25% return.
So, to repeat, it is imperative that Paul and the BoD stick to their guns and not listen to the peanut gallery who clamors for a quick buyout and a lowball price. WRN isn't a quick flip, this has always been and will continue to be a strategic value play with immense upside if Paul and the BoD play their cards correctly.