I am actually dissapointed with the offer of R7.35 from Vale and do not believe that this is great for shareholders. I think it is great for traders who have had a nice run in the last three weeks. The business is starting to produce good volumes and now Vale will extract good value for themselves. If the offer was more I would be more enthusiastic. Also I noticed that there was a R75m penality fee if the directors change their minds or do not continue to recommend the offer. That is also not good for current shareholders.
I'm a real newbie in investing and MTX was one of my earliest attempts (two others dropped about 10 % soon after I bought), so I was quite impressed with my 15% return to date and catching up to my previous loss. However, what do I do now? I just don't have the experience to know what to do do now..