higher bid is on the cards, page-8

Have I got this right.

MOS have more than 630 million shares on issue.

They had cash at end of March quarter of $21m. They have a further $11m coming in from the sale of an asset in PNG.

Maybe they end up accepting the 15c/share bid (which is after all at a huge premium to previously traded price). However they also return capital to shareholders (or pay a dividend) of about 4c or 5c a share which the shareholders get to keep.