HOW dare Olympia risk the wrath of Michael Kiernan by brazenly rejecting the "opportunistic" bid for the company by Territory Resources!
Don't they know that if they want to mess with the bull, then they are bound to get the horns?
All jokes aside, Olympia's delayed Target's Statement included an expert opinion from consultants BDO that Olympia shares should be worth between 21 cents and 25 cents.
Territory have already made it very clear that there would be no increase on its 10 cent per share offer and no extension to the bid which closes April 26.
According to the last ASX announcement, Territory holds 36 per cent of all Olympia stock and given the current market downturn, the squeeze is on for those who choose to remain faithful to the current Olympia board.
But who knows, maybe Kiernan will pull the pin in the belief the Territory money is better spent elsewhere.
Like Monarch Gold for example.
OLY Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
