Asiamet Resources Takeover Rumours (ARS)

2LB TM, in an interview, said something to the effect that if the price remained at the then level(at the time somewhere around 1p) a takeover would be a virtual certainty as Asiamet were very undervalued on any metric. I'm still looking around for the queue of bidders. The market seems oblivious to the "good progress" they are allegedly making.

I recall TM stating in one of his interviews that if the price remained at the current level (then over 1p) he considered a takeover almost a certainty. I believe he also stated they had already received low ball bids. In spite of this I find it hard to believe that in practice a takeover will happen, largely due to the appallingly low share price. Aeturenum were going to float BKM/KSK for $160M (approx 7p+ per share). DOID were going to buy a 51% share in KSK for the equivalent of around 2p per share. This was just KSK. Beutong is much bigger, and the directors have stated both have huge exploration upside. I would think the directors would consider anything less than about 8p per share to be totally unacceptable. With the share price at 0.75p mid, who is going to bid anything near that figure. The key, of course, is what DOID would do. I want it to happen but I just can't see it.

I think I’ve got it tbh. If they buy it’s a massive vote of confidence. But given it now seems likely they won’t, you’re glad they won’t because it would dilute us and we can get the funds to keep the lights on from the magic money tree instead. Simultaneously you think within the next 2-5 month a deal/financing/JV/full takeover will occur. Which DOOD are presumably aware of but still don’t want to invest with that about to happen. I think we’re just missing the fictional Chinese purchase of Beutong and we’ve got the full house

DOID have until November 7th to make up their mind. At June 30th the company had cash of $2.2M. Without the exploration activity shown in the first half, the cash may last longer than expected, giving them the option to explore other avenues. I find it difficult to see how having the largest shareholder on the board doesn't create conflicts of interest vs the other shareholders. It probably doesn't help that Asiamet doesn't fall under the LSE takeover rules.