what was management thinking!, page-8

That may be the strategy - who knows. However, I think there is a quarterly report from CBH due out by about the 15th of this month (end of this week) so that should provide a lot more clarity on a realistic valuation of the company. You can't really blame Nyrstar for having a cheeky go, and last year 13.5 cents might have been an okay offer, but its just not now that we have more of an idea of the fundamental value of CBH.