what was management thinking!, page-6

The company is worth at least 20 cents on a conservative valuation (price of zinc, current and future production levels etc). Chuck in a takeover premium of 30% and your looking at 26 cents a share. These folks are just trying to low ball an offer on a company based on a share price when zinc was worth half as much and CBH was in dire straights. They were a good 6-8 months too late coming to the table with 13.5 cents a share. Its just not going to fly people.