puzzle about the bid, page-7

Pinetree said:
"The second highest bid is not from Ausinca. Actually the second highest bid is from SRK which is $3.2 millions for 50% of AF".

Please let us know if this sounds right ?

IMO the second highest bid is from Ausinca (US$50,800m)

Strike resource (50%)
D&C Pesca S.A.C.(19.3%), D&C Group (less than 0.01%) and Ausinca (30.6%) (collectively the Group Shareholders).

SRK bid $100.00 x 32.0000.000 shares = US$3.2 million +30,7m+4,1m = (US$38,000million)

The separate counter-offers received were:

D&C Group S.A.C. counter-offer US$130.00 x 32.000.000 shares = US$4,160mil+US$30.7m +US$4,1m (US$38,960million the offer)

Ausinca counter-offer US$500 x 32.000.000 shares = US$16,000 million+US$30,7m +US$4,1m = (US$50,800m the offer)

D&C Pesca S.A.C.counter-offer US$859.375 x 32.000.000 shares = US$27,500million + US$30,7m +US$4,1m = (US62,300million the offer)

Counter-offer details
The Ausinca counter-offer values Strike's shares in AF at approximately US$500; the D&C Group counter-offer values Strike's shares in AF at approximately US$130; while the D&C Pesca counter-offer values Strike's shares in AF at US$27.5 million. The D&C Pesca counter-offer is therefore the successful offer under the shoot-out process.
As the successful bidder under the shoot-out process, D&C Pesca must also repay Strike's loans to AF equal to approximately US$30.7 million. Under a separate finance agreement (AF Financing Agreement), as at 30 September 2012 AF also owes Strike a further US$4.1 million for loans advanced since May 2012. The shootout result brings the date for repayment of this loan forward to 31 December


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to all weak hands please keep selling I gladly keep buying them.
Thank you for your shares.