Yes mongrel I know what you are getting at, but with IO price...

Yes mongrel
I know what you are getting at, but with IO price projections of the major banks one could make the case MGX IO reserves aren't worth much. It also depends how many shareholders have come on to the registry post seawall failure as all these newbies would have a cost Base in the 20s and teens.
For example , I personally and along with my clients hold about 1.2% of the company at an average of 20.5c I would accept a cash offer of say 37c Why when company has 40c in cash which may become 44-45c you may ask, because I am comfortable in getting that cash and trying to extract the remaining 15-25% from something else.
Having said that I prefer to first see the level of the BI payout and see if they can make an market exciting acquisition as that is the quickest was to 45-50c IMO