counter offer, page-5

From my experience with the old Consolidated Minerals, if I were considering selling, I'd wait until the last day before the acceptance transaction. I sold CSM after the 3rd counter offer, only to see the saga and SP go up. Oh, could've made so much more money. Such is life.

In this transaction, I'm happy to get IGO shares very cheaply. I think the combined company is much more than the two parts. JML bring cash flow, diversification of product, and very capable mine operational expertise to the party. IGO, by most accounts, has a world class exploration team. I have had several meetings/briefings with JML's Gary Combs over the years, and have always been impressed by his no-nonsense approach.

And a combined company of that size may well see a takeover in the future as various global companies try to bulk up.