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$2.52 sirius resources nl

Shorts for Tues 26 May IGO 2,181,429 and SIR 1,299,255...

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nutcracker

2,675 Posts.

36

28/05/15

10:37

Post #: 15366544
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Originally posted by gosouth ↑

Looks like a done deal to me with the board and Creasy signing up to the offer.
There is no sign that the fundies are buying SIR in anticipation of a higher bid or arbitraging, otherwise we would be seeing massive SIR volumes going through.
If the funds don't think there will be a higher bid, then the odds of one coming are slim IMO.
Never say never - maybe an open door is that IGO has come off 20% since the bid, so the bid offer has dropped something like 10 to 15%.
I calc the current offer as being worth 0.66 x 4.84 = $3.19 + $0.52 cash = $3.71 + S2 = ~$3.81
So... market is pricing pretty close to the offer at last SIR sale of $3.78.
I am a mug because I bought first day, not anticipating that IGO would get hammered. Better learn from that one.

Gosouth

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Shorts for Tues 26 May IGO 2,181,429 and SIR 1,299,255
Yesterday's were not listed when last checked......

As harryella [ who started this thread ] infers Quantum Minerals is in the process of a cap raise of ca$ 1.25bn, doesn't mean it is coming in this direction however I would not be game to be shorting SIR at this stage in the game

SIR Price at posting: $3.78 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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