Agree Rimtalay, the notice does reek of their urgency to be rid of the project, and I must say, at $4m less than the best offer, it CANNOT be in the best interests of shareholders (if all is as it should be)!
The heading of the notice..."YC Mgmt and Metalmin SA NOT proceeding to formal offer...", yet the guts of the notice says they've asked for another ext on completing DD (notice that time ext not specified by CCI), and CCI have refused! Surely this is tantamount to CCI not letting them proceed to formal offer! Is there something to hide?? Perhaps Metalmin SA are in the best position to know if there is!
This seems to be supported by the intimation that they are going to bring forward the GM, previously postponed to 30 June to give all developments time to happen, despite CCI's own admission of other suitors sniffing around!
What would CCI's response be if one of these other suitors came forward now with a $55m offer, and asked for DD of 3 weeks...would they be told, "sorry, you're too late"?!!!
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