I think a further bid is on balance more likely than not....

I think a further bid is on balance more likely than not.

Perhaps the Zijin group will come in with something slightly higher, like 14 or 15c all cash eventually.

The pitch for this could be that it is not variable based on the EVN share price as the current offer from EVN is.

This could be attractive as noting the change from yesterday looking like 13.5 will start getting taken to today 12.5 again, probably largely based on the EVN price.

It will be interesting to see whether the Directors eventually recommend acceptance of the EVN bid in the absence of a superior proposal, or whether they say that it should be rejected given its position below recent valuations.

Either way there could still be some further bidding action in this one.