I agree Nak. After buying GD's stake, Tremont have clearly had control and they have been allowed to run the ship. The Board has been very ineffective in the role of looking after the best interests of ALL holders. Given this, I was surprised they pretty much were given the role of negotiating the offtakes and financing.
When IM came aboard, everyone expected big things from him but I am struggling to see what he has achieved for the company.
It is just a question now whether the remaining minority holders actually try and fight this takeover or just throw in the towel and move on....Gifting a huge profit to Tremont in the process.
I am at least going to wait and see what the Scheme booklet says. At a minimum however, I will be documenting a few things to the ASIC and may even attend the Scheme meeting. If in the end I am forced to accept .33c .... Then so be it.
CXX Price at posting:
31.3¢ Sentiment: Hold Disclosure: Held
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