Ann: DUO: Bid Offer for Aurium Resources Now Unco, page-2

re: Ann: DUO: Bid Offer for Aurium Resources ... "Based on the closing price of Dourado�s shares (being 18 cents) and Dourado options being (4 cents) on ASX on the date prior to the date of this Second Supplementary Bidder�s Statement the market value of the consideration offered is 2.3 cents per Aurium Fully Paid Shares and 0.011 cents per Aurium Partly Paid Share.

Dourado notes that this price represents:

(a) a 9.5% premium to the closing price of Aurium Fully Paid Shares on ASX on the day prior to Dourado first announcing its increased consideration (being 2.1 cents); and

(b) a 35% premium to the closing price of Aurium Fully Paid Shares on ASX on the day prior to Dourado first announcing its intention to make the Takeover Bid (being 1.7 cents)."

Yeah well Bungy notes that based on the current DUO, DUOO and AGU closing prices the offer is at a 6% discount and post JORC it's likely to be +300% discount.

I couldn't imagine anything worse than to pay DUO to exercise options. It would be like throwing good money after bad!!!