takeover reply to bidder statement by 9 march

The reply to the bidder statement is due buy ?? 9 March??. As per other posters I can not comprehend that the AHRs Scoping study did not give a current and expected share price valuation.
This is the independent negotiation tool. Sunstar Capital are in to win and 99% unsolicited takeovers have a 2rd 3rd bids to finalise negotiations.

The current closure date is 23 March (Unless extended or cancelled) my understanding is shareholder must be given at least 7 days to reply to any revised bid.

Therefore I am expecting buy the 15 March further comments from Sunstar Capital.

We need the offer to go unconditional.

AHR has employed M & A consultants they have been canvassing shareholders expectations also I would expect Sunstar to be contacting major shareholders.

My feeling is Sunstar would be waiting for AHRs reply and would have already formulated AHRs strengths and weaknesses and will come back with an offer around $0.35.(Refer option below)

I agree one could argue is low $0.35 but AHR has to raise $40Mil to get the mine going and what dilution would this give to shareholders.

Maybe Sunstar could offer $0.28 and X number of shares in Sunstar also shares in a new Company which is balance if the AHR tenements. This could be a Win Win.

There is still a lot of water to go under the Bridge yet.
BUT Sunstar have stated they are keen (Statement) and AHR has employed M & D experts.

Food for thought.

Please DYOR and make your own decisions