They also said "Integra expects 2012-13 to be
the ‘Year of Discovery’
I guess they didn't expect those discoveries to restore the price to the pre-cap raising level, hence their recommendation to accept the take-over by SLR at that level.
For all the talking up of their company and prospects, they are recommending a surprising low price, only 2/3 the value of earlier this year.
Ann: Integra Diggers and Dealers Presentation , page-4
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