NO due diligence. As soon as they saw the most recent drill result, they put in a conditional offer. So what was it that they liked in the drill results? Open laterally in all directions?
Management must surely be on the phone contacting the Indians etc. As DD says - world's best deposit for $200m. I'd be surprised is a secondary bidder doesn't come in. It's just far too cheap to be ignored considering the $billion+ offers made elsewhere.
From the spiel in the announcement where management is stating that they look forward to working with the bidder, reading between the lines, it's an open offer for other parties to bid or the sale will go through to this bidder.
A screaming hold imo.
K2P Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
