Historia est vitae magistra = The history is the tutor of lifeMy...

Historia est vitae magistra = The history is the tutor of life

My assessment for IDO based on 1mil/t per annum pig iron at $US$400/t with costs US$250 (even though estimated cost is in the order of US$200/t) pe of 8 assigning additional 300mil share to be issued for capital raising purposes, current AUD$ I would have a share price target of $1.26.

So any offer of $1.20+ would be fine by me at this point in time.

IDO ramping up to 4mil / tonnes per annum is different proposition altogether, you would have to assign a SP of $5.50.

I still think they these directors would probably let this one go easily for any bid above $1.20.