The takeover makes sense. 12:1 based on a low SP does not reflect the value of TMT compared to AVL
This 'deal' has obviously been happening behind the scenes for months.
Months in which Prentice was waxing lyrically about permitting 'any time now' to investors in Sydney, dining with Top-20 shareholders to gain more funds whilst planning a CR and this takeover.
Why does all the TMT crew get well paying gigs at AVL when most are clearly are surplus to demand?
And, in view of the fact that TMT and RCF have been planning this for a while - does anyone have faith that the ERD / EPA subs will cover this takeover? Why was the EPA chair on-site? Did the Danish contingent know about this or does a new funding agreement need to be negotiated.
Were the companies involved with the MOU's consulted, or will this be news to them?
How will the indigenous representatives react if they have to start negotiations all over again due to this takeover?
I can only view current TMT management as now hostile to the advancement of this project for the benefit of ALL shareholders, as they clearly have taken the salary offered by RCF and are advocating for us to roll over and have our tummies tickled.
I have zero faith that if this takeover is rejected, that current management will attempt to move this project forward in a timely manner.
The only way forward is to negotiate a better deal either by increased shares or a cash offer - and a clause insisting that all current TMT board members are paid out, and have no further involvement in the project.
TMT Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
