So summing up looks like MQG could well believe there will be a better offer, but with no downside risk apart from a No vote.
Pity you can't explain the discount. The grades aren't much better than AGO.
I am a bit skeptical about how they are still achieving this 12% discount, when history suggests they have always had about a 10% discount. Discounts have recently increased substantially.
Their grades are IV 58.5%fe and Yilgarn 58.9%fe, although they did suggest this at IV:
Test work has confirmed that the fines product responds well to a low cost beneficiation process and will provide a substantial uplift in grade to +60% Fe.
While you might be sitting pretty at MIN atm just remember AGO was once a $3B co.
I'm just not sure I want to pay $17 for them.
MIN
Price at posting:
$17.04 Sentiment: None Disclosure: Not Held
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