I'd like to start a campaign to reject any offer under $1. I'll start by holding 1,000,000 shares until then.
Why.
1. Any cash sale at this stage will put me in the top tax bracket. (I transferred shares to a special investment on 9th on November so even some that had been held for years have lost the advantage of the reduced capital gains rate.I want to hold until at least 10 NOV. I want to sell down over years not days. 2. The offer is opportunistic and undervalued even at 61c 3. Even though the valuation is said to be independant I believe that AWE have influenced the low valuation. 4. I think we need the drilling results and production figures before a reasonable value can be obtained. %. I'm prepared to wait and take the risk. (Haven't we been doing that for years now)
United we stand. Divided we fall. Hang in there.
ADI Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held