Ann: Fourth Supplementary Bidder's Statement, page-21

Really surprising when I read that announcement this morning, obviously some of the big end of town don't see Nic Limb pulling one out of the hat. I think with the lack of any updates from the company, that they are struggling to find anyone that would want to take the stake with Eramet as a partner. MDL did say they were speaking to some of their customers, but Eramet may have appeased that by renegotiating contracts with those customers.



I think they will hit 50% and probably fairly easy. But that's far from having the ability to delist the company. You need 90% for that and I think that may be tough for Eramet.


If they get to 50%, I can see them making it unconditional and I believe they would put a big bid on the market at $1.75 to try and grab as many as they can (just a gut feel).




If the bid finishes and they get somewhere between 50-90%, the share price will probably fall - by how much? No idea, but that's not an ideal situation.

I'd wait a few days, if you don't feel the magic, probably time to pull stumps.




P