Ann: Offtake Terms Resolved , page-23

  1. 29,310 Posts.
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    Loki,
    A lot of what you say is right. PRH wasnt going anywhere alone, under current management.We realised that. Our hope was for a better deal with another entity, which may yet happen.If the SLR deal had been better, we would have accepted it. As it is, we saw it as a scungey deal,took particular offence at the conditions put in place by SLR that made it hard to seek a deal elsewhere, and increased our hatred for our board for accepting it all and being party to giving PRH away for a pittance. A lot may yet happen. If SLR finds its copper bonanza, you might find PRH shareholders singing the praises of "Lord Les". But in the meantime we had tried to better our situation.The days of sitting back and accepting one's fate are gone. A board is there for the benefit of shareholders, not vice versa, although some seem to think otherwise. If Les had offered a better deal, it would have happened by now. As it is, he may miss out, and as SBL points out, so may we. But at least we would have tried. Do you really blame us for that?

    SBL,
    re " Well mate, all I can say is that deals aren't made on the basis of whether individual shareholders are in the black or red"

    Nothing "individual" about it, mate, I think all shareholders excluding SLR's 19% have been united in their rage and disappointment. It's just that the really big guys dont waste their time posting on HC, lol.
    As to 6-12 months time, who knows what the market conditions will be like? Dont tell me you dont feel just a little nervous?

    The die is now cast, and all will soon surface.Who knows what bids may yet arise? And Les may yet get a chance to better his offer. Meantime, nothing to do now but wait.

    cheers,
    GZ
 
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