RE: Paul Hill17 Dec 2024 01:12
Flippineck- 'The chance of the board recommending a low ball offer is, in my opinion, virtually zero. They “know what they’ve got” and so will others!'
May I point you to a recent example where that was exactly what happened...Condor Gold (CNR).
After some investors being involved for 15 years, because of the size of the discovery of $Bn's worth of gold in Nicaragua, they've just agreed a low ball offer which leaves a lot of long termers gutted!
All the permits and environmental impact studies are complete, and the resource has been proven up, largely by using shareholders money, and kept going, during the sale process, largely by Billionaire non executive Chairman Jim Mellon.
It was announced that the company (or resource) was for sale two years ago.
Shareholders have been getting ready for a big bucks buyout, considering that it was a 'turnkey' operation where any buyer would walk in, build a processing plant, and start making hundreds of $M's per year.
Alas, hopes of a sale price equating to between 65p-100p+/share, the company has agreed a sale at 33p, plus some shares in the buyer once complete! Shafted...after 15 years of funding the development, and with the gold price at an all time high!
When you have a lucrative pot of 'gold' at the end of the rainbow, guess who gets the smallest slice of the pie when the spoils are divvied up...specially on AIM!
Don't hold your breath for a 10x bagger here, let alone a 100x bagger that some on here have hopes of.