ASF have shown their hand, maybe a little bit early. There must be something of value in the tenements if they want to buy out the company - personally I would like a 10c offer :-)
Was not suprised by this at all - its the PRCs standard method of operation in Oz speccs (and I include HK investors as just another branch of the PRC). I wouldnt be suprised if they have been using their considerable holdings or other puppet holders to "help" the SP along whenever the price looked like going for a run.
I hope management have a RELIABLE SI lined up. One way out of this is a fairly substantial placement to dilute ASF out of the game - bad for us, but better than a 2c buyout IMHO.
I also believe Management dont have a renumeration strike against them, which is a bonus. However if ASF are smart they will already have a whole bunch of puppets on the register under the 5%, which could make anything that relies on SH vote a bit risky.
AIV Price at posting:
1.5¢ Sentiment: None Disclosure: Held
