Of all the companies with t/o's that I have held, this has to be one of the screwiest scenarios that I have seen....
The company making the t/o offer dumps from US$1.93 all the way down to the $US1.50's and takes MAG with it.
Then when it recovers, MAG just sits there - 17 cents under the value of the t/o offer value...
IMO MAG is still undervalued at the current price and even at the 'original' t/o offer value of A$1.80 per share (otherwise they wouldn't have offer that amount)
MAG is sitting on over A$4 million in franking credits as well....
Comments?
MAG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
